Well- the easier way, in my opinion, is use the Enhanced for M4 set.  You can inject not only the morphs from M4, but V4 as well.

Which is to say you can use all of M4's morphs, the Enhanced morphs, AND all of V4's morphs.  You can also choose to use not only the moprhs for V4 on the Enhanced M4 but V4's UV maps/Skin textures.  

Just to accent what ssgbryan stated.  It's simply easier to do it that way.  You could do the same with the Genesis set, since it combines both the male and female morphs into one figure.