The other navies attract my attention on occasion as I think they play interesting corollary roles in the paths of the biggest navies with some diplomatic and economic butterflies too. For your scenario I think it would be the infrastructure built to support a distant deployed "fleet" in DEI that plays more role than the ships. A dry dock, quays/piers and harbor, facilities, barracks, shops, warehouses, an air field, etc. Once established that sort of draws in ships to use it. So unless we are drafting into a conflict before the Great War, I think it is far less about ships than funding, building and using a base. Even a pair of armored cruisers would command a pretty sizable base to be built. And next would be how much of the lesser craft are built and so there is less of a jump to build/upgrade the rest of the DEI fleet.
In real terms the DEI is best defended by mines, torpedo boats to protect those, submarines, likely minelaying, and some light cruisers to ward off any predatory destroyers. The Dutch cannot hope to actually offset any Great Power (I.e. Japan) with anything less than capital ships, and by the Great War era that means the Kongo-class at minimum. I think pre- or dreadnoughts are less useful, since we need to patrol and ambush, this is a cruiser war and that pushes to a battle cruiser.
Assuming Japan cannot commit more than them, the Dutch need at least a pair, likely three, comparable ships. So post war, in some alternate that also drives the Dutch forward, we have the choice to build or buy. Both Britain and Germany could build or sell, they have a few first generation battle cruisers potentially less useful to keep and still useful enough to buy. So would the two Lion-class be worth considering? Anything that Germany has, like the Moltke or Von der Tann? Of course we still need light cruisers, destroyers, submarines, and so much more, but hopefully more of that is already existing and only less quickly going obsolete.
Given the likely thin budgets, I sort of think the Dutch go for a "Fleet Unit", one or two battle cruisers, 3 or 4 light cruisers, 4 to 8 destroyers (doubling as the local gunboats), 6 submarines, and the other craft. Might still be too expensive but if that carried them from 1920 to 1930, they could slowly replace the oldest, maybe step down to a newer heavy cruiser that is more affordable but keeps them in the "big" navy business, maybe moving to more airpower to offset the enemy capital ships as we get into the late 1930s. Without any idea as to how many guilders I have to spend it feels at least doable.
I think this makes the Dutch are far more visible part of British (and Australian) planning, a less easy push over to Japanese eyes, and maybe an attractive ally to fellow "neutral" USA.