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I need to develop a batch controller that will take a non-scaled output from a flow meter and do flow linearization using a few K factor points. I know what this does in theory (meaning the K factor changes with the actual flow rate) but sort of at a loss how to do it in real life. Is it some time of sample-time based calculation? Meaning sample the flow and then apply the K factor from a lookup table (based on the graph?). But actually, if the flow rate is changing, how do I know the K factor in the first place?

Thanks for your help on this!

If I understood your question properly I think you are looking for a linearized table that has to be fed in the electronics so that it would correct itself to give more accurate flow measurement. If that's the case than actual flow calibration has to be performed to get K-Factor at different flow rates, plot this or tabulate this in the electronics to perform linearization.

What is the flowmeter?
What accuracy is required?