The first thing I see when I open 633 datasheet is :
Total error within 2% of full scale, non linearity +/-1%
So you want to do this with no processor.
So one has T & V & Offsets and Non linearity to correct. So a state machine, with memory (linearization table), ADC, Vref, analog muxing,
DAC, needed. One could consider a power curve or least squares fit to handle the non linearity problem. But that implies micro.
.05% is ~ 12 bit equivalent, and thats 12 bit after all error corrected in measurement/correction system. More
likely one would start with 16 bit A/D. And a DAC of equivalent error.....
Or one uses production cal approach :
Note DUT it shows as micro but can be just existing system modified to send its measurement
result and a EEPROM to receive correction values.
Or one uses a micro or FPGA with 16 bit or better DelSig (pick one with analog muxing, Vref, Gain, ....)
What is BW of signals ?