Glad to see another superheavy BB enthusiast :>
In terms of minimum cost and maximum payout: Spam sub 3s, spam naval bombers, lay mines, and the AI will be at your mercy. A properly designed surface fleet is for the most part just flavor, as much as it pains me to say this - because I love the navy system, and I LOVE my superheavy BBs.
Having said that, against the AI there's not really a wrong naval way. They might be able to build 7/2 or 14/4 divisions but AI ship designs are just bonkers. As long as you build up-to-date ships and retrofit old ones with better modules (just don't retrofit engines and armor, this is extremely expensive for some reason) and you don't pull off some negative IQ fleet composition or ship designs, you should have the upper hand in the long run.
So far I only played one game as a naval-focused fascist Germany (with two superheavy BBs, among other things). It was a good while ago tho' so I don't remember that much unfortunately. But even if you focus on a surface navy I wouldn't recommend the Plan Z focus branch - flipping the nordic countries is very difficult and the landing craft research bonus from the Norway focus didn't even work for me. And you need to build some dockyards obviously. The more you have, the faster you will overtake the UK. I think I had over 40 dockyards by the time the war started.
I don't know how experienced you are in terms of navy so I will just spit all my knowledge, and if someone happens to correct me and I learn something from it, even better.
If anything, superheavy BBs are fun. And since Germany isn't restricted by the naval treaty you can have two well equipped floating fortresses ready by late 1939 without problems (don't forget the Atlantic designer when researching the hull!). As long as they are screened and protected against planes (either by fighter cover or AA), their firepower and resilience will execute the outdated capital ships of the UK even if you're outnumbered in terms of capitals. Sure, you can achieve the same result with less investment by building more naval bombers or by focusing on ship torpedos, but if you like superheavy BBs (like I do), the satisfaction is worth the cost-
I think I had 4 main battery turrets on each of them, based on the actual H-class battleship designs. The remaining slots filled with secondaries and some AA. Most expensive ship I've ever built, but to quote Zagara from Starcraft 2: "He only needs one." - and I got two of them! haha hms hood go boom
CVs are an option but not necessary as Germany if you plan on defeating the UK before Pearl Harbor happens. Surface battles will be fought exclusively in the sea zones between you and the UK where there's plenty of opportunity for land-based air support. If you plan on dueling it out with the US you will certainly benefit from CVs, but you obviously don't need to have them ready by 1939.
CAs... just no. Heavy attack focused CAs are worthless as they can't properly damage screens and can't pen BCs/BBs, light attack focused ones (just a single CA battery to push them into the capital row where they are protected from enemy screens) only work against navies without capital ships. But if you still build them for immersion, don't add any armor. It won't stop a large shell anyway and without it your CAs can at least dodge a bit better.
For screens, my CLs are usually focused on light attacks and having enough armor to brush off enemy light attacks, while DDs are my torpedo ships. If you're behind schedule with your DD production (definitely not because we built super-expensive capital ships or something :> ), put some torpedos on your CLs instead and just spam the most cost-effective cannon fodder DD you can build: Pick the hull that offers the highest HP per production cost, the cheapest gun and the best engine (more speed = more dodging). No other modules, except for AA if you won't have fighter cover - damage gets spread more or less evenly among all screens so in terms of screening, having a lot of cheap DDs is preferable to having a few expensive ones (more combined HP = less DDs lost = better screening).
For the overall fleet composition: Remember the screening ratio. 1 CV needs 1 capital, and 1 CV or capital needs 3 screens. So your minimum CV strike force would be 1 CV, 1 capital, 6 screens. In terms of screen composition I don't have a strict scheme, usually I spread all of my combat CLs among my strike forces and fill the rest with DDs to reach 100% screening - and adding a few extra DDs on top to compensate for potential losses. Just don't get too ambitious, having too many screens gives penalties to screening efficiency. Depending on your designs you should end up with 1 CL to 3 or more DDs if I have the same number of dockyards assigned to each production line.
The effectiveness of your AA depends on the total AA value in battle - so even if capital ships are the main targets for planes, just adding AA to your capitals won't do the trick. If you plan on staying without fighter cover, all ships must carry the burden of at least some AA.