I think the key issue here is avoiding xpub key reuse in multisig. Not only in the future with Schnorr, but we need it today!

Current common practice by hardware wallets is the 48'/0'/0'/2' derivation for segwit multsig ( e.g. [90081696/48'/0'/0'/2']xpub6DYLEkDfCdHzh5FHGHDJksQvFqu6kYANa1sfo6fA8n5ZWkSwyCRVVzyq9LY2eNGB6T9BKDeGJp2ZarjRZHd7WB95nSaFEDhFMK6zSV6D49b ) is the only one used for ALL multisigs offered by that hardware wallet.

As Pieter said, leveraging a HD path parameters can help, but we need a better, less reusable path for the index.

I personally suggest a simpler solution, which is to create an index using a PBKDF of the Account Policy (a descriptor with all xpubs and keys removed), plus optional notes. (BTW, I think double sha256 or HMAC is overkill).

Example: for the reference bit descriptor that might result in:

```
wsh(sortedmulti(2,xpub661MyMwAqRbcFW31YEwpkMuc5THy2PSt5bDMsktWQcFF8syAmRUapSCGu8ED9W6oDMSgv6Zz8idoc4a6mr8BDzTJY47LJhkJ8UB7WEGuduB/1/0/*,xpub69H7F5d8KSRgmmdJg2KhpAK8SR3DjMwAdkxj3ZuxV27CprR9LgpeyGmXUbC6wb7ERfvrnKZjXoUmmDznezpbZb7ap6r1D3tgFxHmwMkQTPH/0/0/*))
```

What Blockchain Commons (and the Airgapped Wallet Community) call a policy map would be

```
wsh(sortedmulti(1,,,))
```

A PBKDF of that as would be unique for all 2 of 3 segwig transactions. With the addition of the addition of the Policy Map creators optional note, it would be truly unique. The Policy Map and/or PBKDF are small and could easily added to existing APIs.

So for legacy hardware, we can use existing 48' subtree, but 3' as the format for this form (2' is segwit), then the desktop can just ask for the /48'/0'/0'/3'/PBKDF' when it requests a new xpub from the hardware token. More sophisticated Airgapped apps you can send "wsh(sortedmulti(1,,,))"+label and let the cosigner app do the PBKDF, and optionally allow it return something different in a full keyset (i.e. "[90081696/48'/0'/0'/3'/af3948cg…'/]xpub6DYLEk…", and then the requesting app, knowing that it is different from the PBKDF can know what to do if it needs to what to ask for in the future.

The other advantage of this technique is that the cosigner app can know what policy it is participating in, before the descriptor is completed. It may decide it doesn't want to participate in some funky 4:9 with a weird script, and not return an xpub at all.