The judges decided that the title isn't disrespectful, especially since the movie focuses on Shivaji Maharaj's early life before he became Chhatrapati.
This is also clarified in a disclaimer cleared by the CBFC.
With the Central Board of Film Certification already on board, fans can look forward to seeing Sanjay Dutt, Abhishek Bachchan, and even a special appearance by Salman Khan when Raja Shivaji releases as planned.