It seems the K-factor can be related to a "real" number.
Seems like the K-factor was invented to give shop floor folks, who might likely not be math or trig whizzes, an easy way to get things kinda close for most uses.
You can probably work in a shop for 40 years, and need nothing but that, that and a willingness to adjust a bit by trial and error when some fussy customer wants it closer. I've worked with places like that, and they got the job done.
Problem with it is that in CAD, you don't get to try it, and the dims you come up with are treated like gospel truth. So it seems that the input to the program should be a bit better than that.......
But..... It is what it am......