I highly doubt.
W04 is better than W03 because it doesn't have a dated rear end like the latter had. But Mercedes is playing catch up here and all the others are ahead on this development.
Mercedes is definitely making an effort for media laps but my guess right now is last positions of Q3 for them
Sauber was doing lot's of laps on 1.22.5 and their baseline fuel is 100kg. Felipe's did 1.21 low and Ferrari's baseline fuel is 60kg.
Red Bull and Mclaren, to say the least, can most probably lap in the 1.19s
Don't get carried away with the time nor compare it with pole time because cold temperatures increase a lot the downforce making the cars several seconds faster from winter to summer.
W04 have no, at least superficially, thing compromising it's design but it doesn't have anything revolutionary either, it looks merely a top midfield car.
I know people here are deeply passionate as this thread had way more pages than any other. Despite this being a technical forum, Hamilton fans are all over it spreading positivism and wishfull thinking but Lewis himself already confirmed several times that the car clearly lacks in downforce and, despite an improvement, it's still behind