A combination of Junkers Ju 288A with Jumo 222A/B and Fritz-X (with many more radio channels for choice) could have been devastating on North Atlantic, NE Indian Ocean, Pacific Ocean and Mediterranean.
It could have devastated fleets (and CVs) enough to largely prevent or foil invasions. The Japanese could have been defeated by a coast crawl from India to Korea (helped by annihilation of Japanese cargo shipping by submarines), but the 15+ CVs of the Essex class would not have been decisive any more.
Germany could have allocated another 10% of its land power to the Eastern Front, and this might have sufficed against the Soviet Union (which was bled white by mid '45) if the Africa campaign would have been aborted in mid-1942 as an additional unhistorical move (saving 400,000 troops with many tanks and trucks, enough to fortify the Med's northern shores AND to stabilise the Eastern Front in late 1942).
In the end, Japan lacked convoy ASW, was short on cargo and tanker ships, lacked CTL fuel plants, needed to get done in China first, had an aviation industry in its infancy (only partially able to patch over its shortcomings; Japan was an importer of cockpit instruments by late 1941!), didn't value speed/ high altitude performance enough in military aircraft and had too basic anti-shipping munitions (best airborne torpedo of 1941, bust still too basic).
Most of all, both Germany and Japan lacked an idea about how to END the war short of conquering all opposition - which was impossible by the time the U.S. joined.