Christian I Raising the Province of Holstein to the State of a Duchy in 1460

The title does not make much sense. Holstein was elevated into a duchy (with Christian I as duke) by the Holy Roman Emperor Frederick III in 1474. Wheather this is a scene from Christian I making Schleswig a dukedom in 1460 or emperor Frederick III making Christian I duke of Holstein in 1474 is still to be solved. However, this painting can be seen as a study for the much larger KMS3297, depicting one of these events.