Firstly if it can be done I'd probably do it to mine, just bc I like to do things to it. Funny as it sounds I like using a magnifying glass to solder hair thickness wires & grains of filtered sand components.

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I'm pondering is if I should make the 4 RGB LEDs for the knob a single addressable location or seperate

Personally speaking a single location would be just fine, no reason to make it more complicated than it already sounds.