In my opinion you're making this a lot more complex than it is. What I'd do is use a drum or wide belt sander to sand the panel flat. Then I'd lay up veneer with a veneer edging of the same species and color as the existing edging. Use whatever veneer and pattern for the center panel. You could even do a radial match if you want to be fancy.
Lay that on the flat panel, preferably using a caul and a vacuum bag. When cured, put an edge around the outside to hide the joint between the wood of the substrate and the veneer. Done.
If you can't do it and don't want to learn veneering, shop the job out to someone who does veneering.
Mike
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