Ok, I can almost see a connection now. My coworker sent me this stack
exchange post:

https://mathematica.stackexchange.com/questions/91651/nearest-kronecker-product

This led me to this Springer article:
https://link.springer.com/chapter/10.1007%2F978-94-015-8196-7_17

and this ScienceDirect article:
https://www.sciencedirect.com/science/article/pii/S0377042700003939?via%3Dihub

I will likely need to dive in a bit more and maybe test the MatLab code
against my handworked examples. Thanks again for the pointer.

Also, totally orthogonal to this topic, this paper also came up at work:
https://pubs.acs.org/doi/full/10.1021/acs.jctc.1c00562
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