A few thoughts from a builder:
How long do you have to build it? Is this a full-year project? Like is it due in December 2024 or do you have just one semester to complete? Full year means you can do some more in-depth things, but a half year means you may be limited in time if you want to fully complete it by the end, and will have an impact on effective design choices.
A simple instrument (i.e. Fender style construction) takes me around 30 hours start to finish, but I've also built a lot of instruments and have a jillion custom jigs and templates ready to go. If I were you, I'd be budgeting around 100 hours to complete a somewhat straightforward bass.
Do you have capacity and space to also work on aspects of it at home? Like can you do the finishing at home, electronics and install? If the school space is the only space to work on it, that will also potentially impact the build time and ability to be flexible.
A completed, functional instrument will probably blow away anyone who has never built one or is not familiar with what it takes to build one, so I doubt you'd need to get really into lots of extra design details to be a project success. You could probably build something pretty straightforward and still really impress.
Specifics - your body/neck design looks fine to me, but I second doing a full-size measured drawing (or CAD) of the instrument so that you can reference it in real-time as you build. It's invaluable when doing a prototype.
Fanned fretlesses are totally doable, and fanned instruments are not any more difficult to build than straight frets, assuming your design accommodates their needs. Do it if you want to.
Gather all your parts asap - their specific dimensions will affect the final instrument. The sooner you have them, the sooner you can reliably lay things out. Speaking of parts, don't be afraid to use super cheap AliExpress hardware. It's mostly average, not terrible, and many items are copies of higher end parts, so if you want to upgrade in the future, you can replace them with the higher end originals. One exception - use a quality truss rod.
Think about construction style now - how thick do you want your body (Fenders are often 44.5mm thick), the thinnest bodies need to consider pickup depth, neck/body joint and depth of cavity to accommodate electronics. I like mine very thin, so 30mm is about as thin as I can go and still have room for those things. In addition, do you want a bolt-on, set-neck or neck-through design? All have their own challenges and advantages. This might be an unpopular opinion amongst builders, but I personally find neck throughs easiest to build with less tools and experience. Also think about the headstock, do you want a tilt-back headstock or fender-style? All of these will impact things like wood selection, so they need to be decided asap.
If you can befriend a builder local to you, that would be a great help, but even if you can't this community here will be fantastic as a resource, it's a great place to hang out!
Last tip, get familiar with "1 inch = 25.4mm". This is an invaluable calculation to use 20 times a day when building instruments. That way, when a supplier shows something is 1.25" wide you can quickly turn that into 31.75mm. Most instrument-related measurements out there reflect Liberians and Burmese use of the old imperial measurements rather than the clean, modern metric system. No idea why that's still the case.