Hello: For a one-sided tolerance interval, no approximation for K is necessary; it is based on the non-central t distribution (and well documented); for the one-sided, if yours don't match JMP's, then yours should be revisited. That said, there are approximations for K that do not make use of the non-central t distribution for users of software that do not have non-central t capability...like Excel for example. For two-sided tolerance intervals, however, there are many approximations (as there is no exact closed form expression). JMP, however, looks to solve for K directly (rather than using some approximation). See the following link. So, if yours is some closed form expression (i.e., some mathematical/statistical formula) it is an approximation and will be different...hopefully still fit for purpose though.
Statistical Details for Tolerance Intervals (jmp.com)