No, America's hard power is still dominant and it's using that dominance to actively suppress China's cultural influence. And even after China actually becomes dominant over the US, that dominance has to be demonstrated before it takes effect. That might be in the form of a series of conflicts or a major conflict in which the US is backed down of defeated by China. This will herald to the world that when pressed to choose Chinese vs US influence, it's healthier for them to choose Chinese. Right now, America has been demonstrating its dominance for the last several decades so when America tells them to choose American or face the consequences (all brought by American hard power), most countries oblige, thus actively suppressing China's cultural influence to far far less than what its natural state should be given its proportions to hard power. So it's not the more hard power you have the more "soft power" follows, at least not in a linear fashion, but that all the "soft power" gushes in when you become dominant and can defeat active suppression from the former dominant competitor.