US carriers could do this pretty effectively because they flew ASW CAPs.
IJN CVs didn't do this often that I know of. Their CAP would be Zeros, and contrary to stock SH4, Zeros did not hold 3300 lbs of bombs. They didn't carry bombs at all off CVs. They'd be pure fighters, so they'd do exactly nothing to your sub (I presume you'd be underwater near a CV in daylight).
To launch bombing assets, they'd need to gas them up, bomb them up, warm them up, put them on the elevator to the flight deck (jap Cvs did all this below decks the vast majority of the time). I'd expect maybe 15 minutes til you could see a plane, tops, and since they were not armed for ASW, it would be pretty ineffective---they'd likely let their DDs do the job.
Later in the war they started messing with CVs as escorts, so you'd expect an ASW CAP, and perhaps ready planes as well.
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