These film versions, ultimately, would yield a better result in terms of picture quality, from the Blu Ray release, I’d imagine. Although, one would have to purchase them and see what condition they are in.
Since both films are essentially 1920x1080, from the source that is, the film prints are in essence, an up res of the original elements. Although, that could be debated as well, since technology has progressed quite rapidly since 2002/2005, printing a digital source to film has most likely improved since this time to a point.
IMHO, I would argue that the industry is at a stopping point in terms of printing to film, since most theaters are digitally based now, rather than celluloid.
This would be a great project for someone with the resources and time. I’d imagine that Disney/Lucasfilm, will has to resort to a film print of the Epsiode II & III, if they ever release a 4K version of the Star Wars films.