PSF photometry works well in crowded fields but the separation of these stars is only 2.9 arcsec so getting good enough focus and tracking to ensure that the PSF of each object is not too blended needs a bit of work with an amateur telescope from sea level in the UK. My image was at a scale of 0.28 arcsec/pix and had a star FWHM of 2.2 arcsec so the stars are reasonably well separated but that was on a night of good seeing. CMOS cameras allow selective stacking a lot of short exposures so a strategy similar to that used by planetary imagers is probably worth trying.
I ran source extractor on this image and it showed that V482 Cyg was about 0.2 mag fainter than the companion so probably about 15.2 unfiltered at the moment. The star is likely to be very red though.