Would love it if this were true. I have clamored for this for a few years.
@Bilal Khan (Quwa) can attest that i prayed the CAMM-ER into existence. Problem is would they utilize the standard vls (single pack) which would allow for probably 12-16 missiles or can they go get a Sylver A50 or Mk-41 and get 32 missiles out of a quad packed 8 cell system.
I would imagine they would use Smart S Mk-II. The C28s of Algeria are based on F-22P but utilize this radar. Put them through a Genesis upgrade by installing GENESIS Advent CMS.
There is definitely space for an 8 cell Sylver A50 or Mk41 as you pointed out. Even if the A50 or Mk41 is not obtainable, 12-16 cells of the standard CAMM launcher likely are.
The Babur class is $375M/ship. The 054A is ~$350M/ship. Replacing 4 relatively young frigates could possibly cost significantly more than upgrading them to a modern standard though it may be more than many suspect. The upgrade would likely involve changing weapons from C-802A to CM-302, adding Aselsans Smart S-mk2, GENESIS Advent, and installing and a vls (be it sylver, or CAMM launcher) may infact be too much. The RNZN recently upgraded 2 of their Anzac Frigates with a very similar upgrade, by changing the missiles from Sea Sparrow to CAMM, though they already had Mk41 launchers to begin with, but they also changed the CMS and added Thales' Smart S mk2 and other sensors to a tune of $770M (originally was supposed to cost $441M). That said the upgrades ran over time and over budget and were done in Canada (notoriously high labor cost). If these upgrades can be done in Pakistan, i suspect the cost could be ~$200-250M/ship. The question is with the wear on these ships, is it worth it... The ship brand new cost $175M, so spending 200M may not seem really worth it in the end. The question will be whats the real cost of the upgrade and what is the time frame of upgrade vs delivery of new construction.