I have looked up the details of the AM Controller Caravan Nose weight Gauge, and it appears to raise the nose of the caravan whilst taking the measurement.
Raising the height of the hitch reduces the down force, and thus it will give a false reading - which will be lower than the actual force applied when towing.
The description claims the design was carefully calculated by three civil engineers to produce a quality nose weight gauge. It does not say weather they allowed for the apparent reduction in nose weight due to the raising if the hitch.
If you adjusted the nose weight to give you your maximum available as indicated by the guage, when the caravan was attched to the car you would be in excess of your allowance and thus illegal.
If such a nose load gauge is to be used, it would be wise to down rate your reading so that you do not exceed your limit. the problem is how much to allow for the height difference, and the inherent inaccuracy of the gauges measurement system.
My purely gut feeling is that you should allow at least a 10Kg difference, so if your allowance is 75Kg I would load to an indicated 65Kg - unless anyone knows differently.