Re-calibrate your expectations.
Imo.
Ime.

A csmcio-ip-s costs 1500, +/-, for the controller alone, dc psus, conduits, standoffs, ferrules, boxes, cables etc.
Wiring everything takes 2 days, when you already know everything about everything, and have done it several times.

Does the spindle have an encoder ?
If not, how will you or someone add one ?

It took 200 hours to do my first good lathe re-build circa 2006.
It took 200 hours to do my next saddle rebuild last year, on 750W ac servos. Details remain.

A linux+mesa hw may cost 1000$ less in hw, but all the work remains.

A basic ghetto stepper system can be set up in 2 days, if brackets and spot-welded stuff is acceptable.

2 ac servos, 60V DC, 400W, pulley drives, psu, would cost less than 1000$.
(390€ each servo).
A pokeys controller would work, 150€.
One would then need to mount/fab brackets, align everything, typically get pulleys bored to size on the driven ends, etc.