Have now made at least nine holders for ER collets, from ER20 to ER32, for various purposes.
The last one, also involved making three collets to hold 1, 2 and 3MT shanks, and even with only one set of slits, in unhardened steel, all seems to function as required)
I just set the Topslide over to 8 degrees, using a magnifier to watch the graduations.
After carefully boring the taper, (I gauged how far to go by measuring protrusion of a collet from a commercial holder, and maching until I got JUST a little over) Final op is, as Stub mandrel says, Wrap oiled fine emery around a collet and use to hone/polish the bore. Don't push too hard or it be snatched out of your hand!
All my holders seem to work quite satisfactorily, so the technique can't be too far away.
Howard