$\newcommand\la\lambda\newcommand{\R}{\mathbb R}\newcommand{\de}{\delta}$The answer to this question is yes.
Indeed, let $h:=f^*/g$. Then $h$ is a nonincreasing function and the inequality in question can be rewritten as \begin{equation*} \Big(\int_0^\infty h(s)^{p'}ds\Big)^{p/p'} \le c\int_0^\infty h(s)^p s^{p/p'-1}\,ds. \tag{1}\label{1} \end{equation*} Note that $p'>p>0$.
Letting \begin{equation*} a:=p'/p>1\quad\text{and}\quad u:=h^p, \end{equation*} we see that it is enough to show that \begin{equation*} L\overset{\text{(?)}}\le \frac1a\,R, \tag{2}\label{2} \end{equation*} where \begin{equation*} L:=\Big(\int_0^\infty u(s)^a\,ds\Big)^{1/a},\quad R:=\int_0^\infty u(s)s^{1/a-1}\,ds, \end{equation*} and $u$ is a nonnegative nonincreasing function.
By approximation, without loss of generality (wlog) the function $u$ is piecewise constant, with just a finite number of discontinuities and with $u(s)=0$ for all large enough $s>0$. So, wlog \begin{equation} u(s)=\int_{(s,\infty)}\mu(dt) \end{equation} for some finite measure $\mu$ with a finite support $S_\mu\subseteq(0,\infty)$ and all real $s\ge0$. Then \begin{equation} R=\int_0^\infty ds\,s^{1/a-1}\,\int_{(s,\infty)}\mu(dt) =\int_{(0,\infty)}\mu(dt)\,\int_0^t ds\,s^{1/a-1} =a\int_{(0,\infty)}\mu(dt)\,t^{1/a} =a\int_{(0,\infty)}\nu(dt), \end{equation} where $\nu(dt):=\mu(dt)\,t^{1/a}$, and \begin{equation*} L:=\Big(\int_0^\infty ds\,\Big(\int_{(s,\infty)}\nu(dt)\,t^{-1/a}\Big)^a\Big)^{1/a}. \end{equation*} Since $a>1$, $L^a$ is convex in $\nu$ (actually, by Minkowski's inequality, even $L$ itself is convex in $\nu$), whereas $R$ is affine in $\nu$.
Note that the support of the measure $\nu$ is finite and, by homogeneity, wlog $\nu$ is a probability measure.
So, we have the following:
Given any value of $R$, the maximum of $L$ over all probability measures $\nu$ with support $S_\nu$ in a given boundedcompact interval $I$ (say of the form $[0,N]$) and with the cardinality of $S_\nu$ not exceeding a given natural number is attained at a Dirac measure $\de_z$ supported on a singleton set $\{z\}\subseteq I$. So, wlog $\nu=\de_z$, and then \begin{equation} L^a=\int_0^\infty ds\,\Big(\int_{(s,\infty)}\de_z(dt)\,t^{-1/a}\Big)^a =\int_0^\infty ds\,z^{-1}\,1(z>s)=1 \end{equation} and \begin{equation} R=a\int_{(0,\infty)}\de_z(dt)=a. \end{equation} Thus, \eqref{1} is proved. $\quad\Box$
We also see that the constant factor $\frac1a$ in \eqref{2} is the best possible one. So, the best possible constant factor in \eqref{1} is $c=\frac1a$$c=\frac1a=\frac p{p'}$.