Using a disc is going to be very difficult to get a proper fit. If you have a drill press, do yourself a favor and invest in a drum sander that will chuck into your drill. They are relatively inexpensive. Check with some of our sponsors like Big Jim, or Kustom King. They are also available from places like Eagle America, or Bingham's.
Or go one better than that, and get a Luthier's Friend! This is where it's at! It's a drum sander like above, except it has a roller bearing on the bottom of it, allowing you to follow a template exactly! It also has a vertical wall attachment that allows you to thickness sand a lamination. It's a game changer for bow building.
If you don't have a drill press, then the best way to get a smooth, clean shape is using a sanding block. Any flat block that is wider than your riser stock will work. Longer is usually better. The 4" ones you can buy from a hardware store will work, but if I were to make one, I'd go at least 6", and cut a curved radius on one of the ends. Then just staple, tape, or screw a block on top to hold your sand paper tight.