Trigger Parachute Release during Potential Thrust Loss

We are using Mission Planner Version (1.3.57) as GCS and firmware 4.0.3. We are trying to trigger parachute release during Potential Thrust Loss event.

We are able to achieve the above action using RC.
Can we trigger this event in the configuration settings using auxillary servo channel 9 ?

Please provide your inputs and lets us know if we any additional information is required