I know you asked Peter but I might chime in,
I also have multiple versions
It’s all about templates and workflows for me
I make a multitrack project in Ableton for every song 99% are from Karaoke Version
These are edited as I see fit
They all start on measure 3
1 is a count for Drummer
2 is the count in
Files are exported the full cycle range (as in from measure one)
The track if multitracked has all necessary parts split but also the Stereo Version has the 2 measure blank
When you copy lyrics or Midi Timestamps these will sync across all versions
Just use the auto trim start feature