They should just crowdsource the work- scan the original TNG prints at high res then release the scanned files to the fans- the fans would edit them together, for free, precisely how they appeared in the original airing (because fans are obsessive about that sort of thing) and return them to Paramount, who could then either add the effects themselves... or crowdsource that as well to budding CGI artists who would receive a credit for their work)
Paramount would never do this, of course (it would involve giving up the raw information to fans for free), but they COULD, and we WOULD do the work for them- they could essentially get the project completed for free, minus the cost of scanning the original film prints and the organizational effort (The Okudas could do this- and check the final edits to ensure they matched with the originals) to get the fans to work on the prints. And you are kidding yourself if you don't think there are DOZENS of fans with both the tech and the rapid fan drive to do that work for them- the kudos on saying: "I helped bring this into existence." alone would be worth it.
NIN did a similar thing with their tour footage recently.