Though a plunge type with digital display would be an option and at least the zero will always be the right way up.
Mention was made earlier that split dies may give a change of pitch but no actual figures given. I’m inclined to think that any errors would be quite small maybe 1% of pitch at the most, not sure what tolerances some people need to work to but that is not a lot.
lets say you want to turn a piece of nominal 3/8″ bar down to 1/4″ that is going to be around 0.125″ to come off. Now if I were doing that I would touch the tool against the work and zero my handwheel (Pultra you may just nee dto note the reading). As it is a light machine lets say you then take four cuts of half a turn of the handwheel reducing the diameter by 25thou each time. Then a lighter cut of say 7thou on the wheel or another 14 thou off diameter.
Now take a measure ment which should be in the region of 0.261″ so another 11thou to come off so wind the handwheel 5 1/2″ thou and take your final cut.
If the handwheel and thread is perfect you hit your 0.250″. If there were 1% pitch error then:
1% of 25thou pitch is 0.00025″ and 5.5/25 of that is 0.000055″ that is half a tenth of a thou or 0.0014 mm which is 1 1/2 microns. Wish I was able to measure that let alone work to it and it would change buy the time I bought it in from the workshop.
As to replacing the screw as your Pultra won’t screwcut and if that sort of error matters to your work then think about getting a spare screw for an imperial Sheline and modifying that to suit. I’m assuming you still want to work in imperial, if not then why not source or make a metric screw.