I doubt that Disney or Lucasfilm would ever release Mike Verta’s project.
How do you know?
I’m not aware of a major studio ever accepting something like that, especially since they have access to much better material and a whole department of people to work on it, let alone releasing it.
But nothing like this has ever been attempted before and its not like Legacy is just some amateur scan of a release print. We are talking about a serious restoration here. Yes, with original elements I’m sure a proper restoration could achieve slightly better results, but with Disney’s track record that is not exactly a guarantee.
I imagine the biggest hurdle for Mike is simply getting in touch with the right person that would actually take the time to look at his work and who also has the influence within the company to make something happen.