Yes, it's possible to watch the disc on your Apple TV, but you will have to rip the movie first. To do this, use MakeMKV to rip the uncompressed file to 1080p. Since it takes very much space, install Handbrake to encode it. Add the file, select the output as Apple TV, and wait for the process to be finished. Once you're done, transfer the file to Apple TV and you should have the possibility to play it in its native quality without any loss of audio or visual quality.