So looking over this answer: Does gravitational time dilation happen due to height or difference in the strength of the field?
I am not sure if I am following completely. My issue relates to time dilation being multiplicative, though perhaps there I'm already wrong somehow.
Let's say there are three observers at different heights - A, B, and C. The gravitational field (or acceleration) is constant, and small, and the observers are relatively close. I'd like to think about the dilation from A to C in terms of from A to B and from B to C. I expect that:
$$\frac{dt_A}{dt_C} = \frac{dt_A}{dt_B}\frac{dt_B}{dt_C} \tag{1}$$
In his answer, John Rennie used the Rindler Metric to show the veracity of the approximation
$$\frac{dt_A}{dt_B} \approx \sqrt{ 1 + \frac{2\Delta\phi_{AB}}{c^2}} \approx 1 + \frac{\Delta\phi_{AB}}{c^2} \tag{2}$$
Because the metric indicates
$$\frac{d\tau}{dt} = 1 + \frac{gx}{c^2}\tag{3}$$
Which at least looks similar.
However, I'm not quite getting the connection between those. If the approximation is reasonably accurate, then since
$$\Delta\phi_{AC} = \Delta\phi_{AB}+\Delta\phi_{BC} \tag{4}$$
We would get
$$\frac{dt_A}{dt_C} \approx { 1 + \frac{\Delta\phi_{AB}+\Delta\phi_{BC}}{c^2}} \tag{5}$$
Which is not the same as this, via $(1)$:
$$\left( 1 + \frac{\Delta\phi_{AB}}{c^2}\right)\left( 1 + \frac{\Delta\phi_{BC}}{c^2}\right)\tag{6}$$
The latter has an additional $\frac{\Delta\phi_{AB}\Delta\phi_{BC}}{c^4}$ term. Now, I am happy to believe that this term is small enough to ignore in any single calculation. However, if we keep subdividing the distance, we end up with more such product terms and we have an infinite product to evaluate, which is a Volterra product integral:
$$\prod \limits_{0}^h\left(1+\frac{g(x)}{c^2}dx\right) = e^{\int \limits_{0}^h\frac{g(x)}{c^2} \, dx}\tag{7}$$
For a constant $g$ this evaluates to
$$e^{\frac{gh}{c^2}}\tag{8}$$
I understand that for small exponent values, this is close to $(1+\frac{gh}{c^2})$ but it's not the same. And if I start with equation 8 instead, and do the same subdivision exercise, I end up back at equation 8 once again.
So I'm in the position of: if I think of using the approximation, I can prove to myself that it should actually be something else, and that something else no longer looks like the equation extracted from the Rindler Metric, so I no longer see the connection between $(2)$ and $(3)$.