Try this if so inclined:
Indicate off the top of the part using a mag base and indicator. Rotate the chuck for the lowest indication and loosen the top screw what is
determined to be half the error. Rotate the chuck one half turn and tighten the top screw. After 4 to 5 adjustments, one is usually within
10 thousandths or so. If the low appears in between the screws, loosen both screws nearest the indicator, Rotate 1/2 turn and tighten
both screws. At that point, the part(if so inclined) will not dislodge from the chuck. Once down to a couple thou, I look for the high spot and
tighten the top screw for a last nudge or two. All the screws may not end up tightened exactly the same but that's not critical as long as
all are tight within reason. Also, it isn't necessary to ever look at the numbers on the indicator, just the lows and highs to ascertain the next move.
It works for me.