This is difficult because a 3rd octave spectrum is missing a lot of information which needs to be filled in with "good" assumptions.
For starters you need to determine who exactly that spectrum was created. In most cases, a third octave spectrum is measured using a pink excitation. If that's the case, you do NOT need to correct for the varying widths of the bands because that's implicitly done already by a pink excitation. If there was any other weighting applied, you need to undo it. If this was measured using a white excitation, you need to indeed correct for the variable bandwidth using a -3dB/octave slope (or a $1/\sqrt{f}$ weighting)
Then you can interpolate the 3rd octave spectrum on a FFT grid. Spline typically works ok for this type of thing, but that depends a bit on how wiggly your data is. This will also require extrapolation down to DC and up to Nyquist. The best way to do this depends on the specifics of your data, your application and what you know about the thing you are modelling.
Then you need to add some phase information. The most common choices would be minimum phase, zero phase or linear phase. Again these all have pros and cons, so there is no one-size-fits-all answer.