I've found that on rewatch, the last third knits up even tighter than it did on first watch, but the first third is done no favors. The characterization doesn't really improve from spending more time with them. There's not a whole lot there that wasn't easily caught on first view - if they didn't hit w/ you initially, they're probably not gonna hit any harder.
I also think some of that has to do with the nature of the film as a "Men on a Mission" thing, which tends to look at its characters as not much more than their function on the mission. There are ways to deepen those characters through the course of that mission playing out, and it tends to really come out when the characters have to interact and bounce off the other members of the team, and this is where Rogue One falters more than other similar films: Nobody really bounces off anyone but Jyn or Cassian. I said in another thread that it's likeimagine ALIENS where the marines basically only talk to either Ripley or Hicks. Maybe Gorman. That would reduce a lot of their personalities automatically.
That's what happens with Rogue One.
So it really comes down to whether the sketches the Actors are charged with bringing to life are good enough for you on first go. And if they aren't - you're probably going to always feel the film is lacking. Which is absolutely valid - and in a way that doesn't tend to bring in this weird undercurrent of general condescension/distaste towards both fans/fandom, and towards the percieved low-level-intelligence of general audiences and their inability to understand genre entertainmentboth of which are elements I feel have become very stong hooks for RLM viewers, to try and tie this sidetrack back to the thread's original intent.