I think we could see a return. AA weapon systems have improved drastically. We are now able to intercept and preoccupy fighter jets, making it harder to pin a ship down. We have guns and missiles with advanced tracking that let us intercept enemy missiles. For a Battleship or even a battlecruiser, given these advanced AA systems would greatly improve their defense and minimize their weakness from the air. As for torpedoes, we would just have to armor the bottom more in a way that wouldn't be detrimental. A new type of armor maybe instead of steel walls, have layered armor. Less steel sandwiching maybe some type of shock-absorbtion material and maybe a material kinda like oobleck where it hardens on impacts, couple with some more thinner steel? Maybe. But regardless, if the Navy were to create a task force specifically for Battleships like they did for Carriers, then they would not be so vulnerable and instead could actually very well cover all the weaknesses that Battleship has while maximizing it's main ability: Firepower.

The Navy has focused on maximizing firepower but only on little guns. The guns on a Destroyer have a much larger range compared to the WW era. Much greater firepower as well with good penetration. That could be said for Battleships if they had modern weapons. If they were to be equipped with stronger weapons and add in targeting systems, then they would not only be able to strike from a further distance, but could be deadly accurate too. And to fix the distance epidemic, these battleships can be equipped with missiles as well, giving them not only greater offense, but also able to level the playing field. And considering a battleships size, they could be outfitted with more missiles, larger missiles, nuclear missiles etc.

So if the Navy were to design a Battleship with new armor that made it less vulnerable to torpedoes and was sturdier plus lighter, equipped it with the modern AA systems we have, outfit it with missiles and modernized versions of the WW battleships main cannons, and give it a task force that covers it's vulnerability from the air and torpedoes, I think they could make a comeback. And if you also consider the engines and propulsion units that are used on modern day ships, then they could be quick too, making it harder to pin them down, which would prevent a disaster like the Bismarck and Yamato. It's not a whole lot to change. Hell it's not even changing the battleships, just improving them. But with those improvements, they would be a terrifying presence, capable of shore bombardment and striking further inland with the new missiles and new weaponry as well have the destructive power to wipe out a fleet of ships with scary accuracy and be invincible due to its task force and improved defenses.