An interesting idea, but too late ?
Your aircraft altimeters should not be such that any error take you outside the safety limits for an IFR approach.
Picking up altimeter errors should be part of your SOP but I would argue that 1000 ft be it QNH or QFE is too low to do anything but discontinue the approach and sort the problem out above the MSA.
We have a robust altimeter checking system, with a check on the ground before engine start, a check when setting STD in the climb, a check in the cruise ( that is recorded for RVSM reasons ) a check when setting QNH and another check when the RAD ALT comes alive at 2500 ft AGL.
There is also a check at the final approach fix ( usually at about 1000 ft AGL ) any significant error at this point would result in a go-around if not VMC, in my view nominating a master altimeter at this high workload point would only distract from far more vital things to do and compromise the safety of the aircraft for the so called safety advantage of going around a few feet higher.
In short your altimeter checking and troubleshooting should be done long before you get to 1000ft on an approach and the check at 1000ft should be a simple go/no go decision on continuing the approach.