Try this
silver steel stub in chuck. Clock run out. Loosen rotate the collet in the holder 45 degrees. Remeasure runout
repeat at the next 6 settings. Chances are you will find the runout is in the collet. They vary tremendously in quality and runout is only good with ones which are sold with an actually detailed number some I have been looking at are quoted at 0.0006” from amazon but not yet convinced this is the best without going to a silly price. I need to look further.
HSEAMALL 19PCS ER32 Precision Spring Collet Set,2mm-20mm ER32 Collet Chuck for CNC Workholding Engraving & Milling Lathe Tool