Playing around with this, I think I’ve found a closer aproximation at least, however it does produce some artifacts I can’t quite resolve: 
Credit goes to Kent, as you mentioned that you were mixing colors into the vector data which made me think hard about that setting in the Displace node and how you could copy out that data. I took the node tree from the shader and rather than plug it all into displacement, I fed it into an emission node, and then baked it out (I did a simply U > unwrap on the mesh first). Saved as a 32bit float .exr and fed it into the displace nod. Using RGB to XYZ as the direction seems to give the best results, but something about how I’m baking or saving out the image is introducing those artifacts. If I manage to get more time to play around with it later today. One limitation of this is that you lose the ability to have adaptive subdivision with this method.