Best Way to Merge Multi Choice Values From 2 Different Configuration Scheme Contexts

[Ricky Lin]

We have a Multi-Choice Custom Field called "Lifecycle Environment" in our system.  Over a year ago, we had a business need to make a separate Configuration Scheme Context to support a different set of values in certain projects, but that need has ceased and we're trying to put things back into one Context (with the SAME exact value names).

This is where the problem is.  When you create new values in a new context, they're created as separate values with different Field ID's, so they're all technically "different values" despite the fact that they have similar namings. I did a test on my own and found that if I just deleted the 2nd one Context, all the values with the associated tickets are erased right away with no option to "remap" them to what's on the original list.

What is the best approach to accomplish this?  Do I simply make a note of all the values from the 2nd Context, remove them, and go to all those issues and bulk update them?  Or is there a more intuitive/better way to handle this?