Here is an idea for you. Using Finder, make a temporary folder outside of the main iTunes Music folder. Make your playlist. Then select & drag the tracks in the playlist from iTunes to the temporary folder in Finder to make a backup. Rename the Artist and Album Artist names of the tracks in the playlist as desired. Finally, drag the tracks from the temporary folder back into iTunes. Repeat for each playlist. See if this does what you want.
Enjoy life!
Steven
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