Hi Bhavana,
If I understand your query correct, TR#2 contained changes for both CR#1 and CR#2. This means that the relevant changes for CR#1 are already there in prod. So, it would already be behaving in the way that you expect after both changes going through in proper sequence.
Coming back to your main query, If you try to import the ESR related changes, PI will ignore the older version as it can relate from the version history which are the latest changes. Here is an expert from SAP help document:
When older object versions are imported to a target repository, any existing newer object versions are not overwritten. The older version being imported is visible in the 
object history following the import. The more recent version remains the current version.
Relevant link:
ESR Content Transports - Transporting ESR Content and Objects of Integration Directory - SAP Library
Regards,
Sanjeev