Convert to PCM, edit/tag and then convert to DSD. For it to be worth your time and effort you will need a high quality phono setup including phono preamp. A high quality A/D converter starts at MSRP of $1k. Make multiple backups of your digital files.
I've converted over 500 albums using Prism, Apogee and Drawmer converters and Spark XL or Bias Peak Pro software. The results can be excellent, but not always. The condition of the record is critical.