I would think so too. baking would be the way to go. I’m glad you came up with that too so I’m looking in the right direction. but;
I’ve tried many ways and looked at many tuts. up to now these are my findings:
substance painter: can’t do base color transfer because you can only transfer 1 material to the base color slot. I imported the model with auto unwrap everything. same model as high poly mesh. then I imported the 2 textures and only 1 can be applied to the first model.
And in C4D: I’m not that familiar with the UV edit, but I somehow managed to bake the texture in place. problem is the texture has hundreds of ilands and lots of small lines all over the model.
In designer it is possible so I’m told, but I don’t own the software.
So it looks like a straightforward thing to do, also in C4D, but bake 2 materials and merge it to 1: I’m not there yet.