you would not be in compliance with the law.
Texas actually does have rules on brandishing a weapon in a few places. The “lowest” of them (i.e. not a use of force case but still out of holster) would likely come down to this:
Sec. 46.035. UNLAWFUL CARRYING OF HANDGUN BY LICENSE HOLDER. (a) A license holder commits an offense if the license holder carries a handgun on or about the license holder’s person under the authority of Subchapter H, Chapter 411, Government Code, and intentionally displays the handgun in plain view of another person in a public place. It is an exception to the application of this subsection that the handgun was partially or wholly visible but was carried in a shoulder or belt holster by the license holder.
Basically, by removing it from the holster you’re no longer operating under LTC open carry and have to be using it under another reason. Especially with it loaded you could be in a bunch of trouble as at that point you’re not engaged in sport, you’re not in transit, you are not working on the firearm, and you’re not on your own property.
Furthermore, you can still be found to be creating a reckless endangerment situation but that’s more of a discretionary call on whomever is watching.
If I saw someone remove a firearm from a holster and do what you’ve described, I’d be telling them to stop purely on safety grounds let alone the possible legal implications for that individual. DMS does have rules about working safely in the shop.