At a certain high level I’m sure you can model the brain that way. But we know humans are neuroplastic, and through epigenetics it’s possible that learning in an individual’s life span will pass to their offspring. Which means human brains have been building internal predictive models for billions of years over innumerable individual lifespans. The idea that we’re anywhere close to replicating that with a neural net is completely preposterous. And besides my main point was that our brains don’t think one word at a time. I’m not sure how that relates to predictive processing.
See predictive coding and the free energy principle, which states the brain continually models reality and tries to minimize the prediction error.
https://en.m.wikipedia.org/wiki/Predictive_coding