That's the version I have on BD, as well. I no longer own the old theatrical release that I had on DVD.
When I search for "Basic Instinct" on iTunes, the director's cut specifically says it is the director's cut. I am assuming that the other version that does not mention that is the theatrical cut.
I am not 100% certain, but I thought that was even in the theatrical cut. I am not sure what was added to the director's cut. I just noticed that iTunes was selling the two versions separately, and we do not know yet which version Warner Brothers is releasing on UHD... or if both versions will...
Which version did you buy on iTunes -- the theatrical cut or director's cut? They are listed separately for purchase.
Until we know the details of the UHD release, is it possible that only one of the iTunes cuts gets upgraded to 4K?