Of course he would, but its a year longer, and we might ask him back in another role first (assistant for instance, or academy coach).
1 year at derby where he essentially failed, is no reason to offer him a top PL job imho, so there must be another reason, ie he's a cheap popular option, in times of trouble. Frank should see it that way, and try and be successful at derby, where, yes he could fail, but he's more likely to succeed there again imho, which sets him up for bigger jobs down the line.