Blender - Apply scale of null back to 1.0 but retain object’s transformations

import bpy

# Get all selected empties/nulls
selected_empties = [
    obj for obj in bpy.context.selected_objects if obj.type == "EMPTY"
]

for empty in selected_empties:
    # 1. Store direct children and their current world transforms
    children = empty.children
    if not children:
        empty.scale = (1.0, 1.0, 1.0)
        continue

    child_transforms = {child: child.matrix_world.copy() for child in children}

    # 2. Reset the null scale to 1
    empty.scale = (1.0, 1.0, 1.0)
    bpy.context.view_layer.update()

    # 3. Restore the children's world transforms (Blender auto-calculates the new local scale)
    for child, matrix in child_transforms.items():
        child.matrix_world = matrix

bpy.context.view_layer.update()