A local phase space stochastic quantization?

I examine whether Nelson's stochastic formulation of Schr\"{o}dinger equation could be derived from a phase space process through a colored noise smoothing. If this conjecture is true, it would yield a local stochastic hidden variable theory. I discuss how this does not necessarily contradict Bell type theorems as general local stochastic theories can violate local causality assumptions. I also discuss the generalization to quantization of fields and speculate about the gravitational origins of noise.