Bumping this post cos I want this done too. I was thinking of doing it myself but I have very limited experience. I can colour correct, but I do not have the ability to fix the robots lasers to make them purple again, etc.
It would be nice to have an ultimate version of Terminator 2 with the detail of the 4K disc, but the colour timing and grain of the Lionsgate transfer. I also have the theatrical stereo mix which can be played as a 4-channel stereo mix on compatible receivers for the original theatrical experience.