He does, but that is clearly changed. Which is probably a good thing in this case. If the One Ring is so all powerful how come the Numenorians could defeat him? It undermines the premise of The Lord of the Rings.
So you believe Númenor's challenging of Sauron's might in Mordor is imminent. I'm not so sure. We haven't seen much worth challenging yet - just some goblins digging tunnels.
And Sauron possessing the One Ring when he surrenders to Númenor doesn't undermine the premise of the LotR which is that Sauron at the end of the Third Age is already too powerful for any force present in Middle-earth at the time to defeat through strength of arms alone, even without the ring, and that destroying the ring is the only chance the free peoples have of stopping him. Of course, if he gets the ring, things will be that much worse, but he's going to win anyway.
In the Second Age, even after Sauron forges the ring, things are very different. Númenor and the realm of Gil-galad are both quite powerful and together drive Sauron back to Mordor in SA 1700, at the end of the War of the Elves and Sauron. Much later in the Second Age, Sauron surrenders due to the overwhelming might possessed by Númenor alone, realizing he can only destroy his greatest rival from within. Finally, contrary to your point considering the event's prominence in LotR lore, at the end of the Second Age, Sauron loses the ring because his forces are defeated at the Battle of Dagorlad by the Last Alliance of Elves and Men, the combined forces of Gil-galad and the new realms in exile, Arnor and Gondor and is besieged in the Barad-dûr for seven years, ending with Sauron himself making a last desperate sortie in which he was wounded by Gil-galad and Elendil, allowing Isildur the chance to cut off his finger.
At the end of the Third Age, there is no Last Alliance to be formed. Arnor has been destroyed and Gondor is a shadow of its former strength. The elves are departing across the sea, forsaking Middle-earth. Sauron's victory is a forgone conclusion because there is virtually no one to stand against him.