There’s no need to do it that way, when the theatrical blu-ray generally has much less DNR (for live action), so you edit that to match the DE edition. This is what I will be doing.
Sure, you can do that and it may end up better looking, but by doing what I just did I have quite nice looking Director’s Edition made in half an hour (+ re-encoding) without any editing required and with grain in place also in DC exclusive VFX shots.
https://images4.imagebam.com/95/dd/56/MEG0WE7_o.png
https://images4.imagebam.com/94/a7/93/MEG0WEA_o.png
https://images4.imagebam.com/f7/fd/55/MEG0WED_o.png
https://images4.imagebam.com/31/0c/60/MEG0WEH_o.png
https://images4.imagebam.com/04/de/5b/MEG0WEM_o.png
https://images4.imagebam.com/bb/01/fb/MEG0WEP_o.png
https://images4.imagebam.com/54/5a/99/MEG0WET_o.png
https://images4.imagebam.com/97/65/bd/MEG0WEX_o.png
