All of the words mean approximately the same, with slight variations in nuances.
修正、更正、改正share the character正,which means "right, correct," so these three all mean to make something previously wrong correct.
修改literally means "to edit," since whatever was written before may not have been wrong. You're just changing it.
However, in everyday use, it does have the meaning to "correct"
Finally, 批改has a very strong sense that a teacher is correcting a student's work. The other verbs do not have this sense.