Negative. JF-17 Block III is not a new design.
It could have a new design based on JF17B with vertical stabizers, larger nose and larger wings with increased composites
But the B3 was finalised in 2015/16 and it's been reported there will be no halt between B2 and B3 production
Right now PAC has termndous traction
Remember B1 and B2 capabilitys were set out in early 2000 while the airframe was designed in 1990s
Now B3 will see both structural and software changes I doubt PAC and PAF will stand still
B3 will have AESA, HMD and targeting pods
Possibly IRST and upgraded engine
Greater payload and lighter
Exports secured, dual seater out, B3 completed
What another amazing year for JF17