It is my understanding that Throttle CUT was originally intended for use with internal combustion engines.
I use Throttle CUT (toggle-type binding button) to initially arm the ESC. My Throttle HOLD throttle curve is set high to be within the auto-rotation bailout window, so my TH will not arm the ESC.
I use all the Flight Modes (FM switch) for different governed HS rpm.
Again, I use Throttle HOLD to cut power within the autorotation bail-out window. Once I land, I engage to Throttle CUT to reset soft start.
At one point, I used to have a Normal FM throttle of 0-30-30-30-30 or 0-0-30-30-30 with Castle governed HS, but I once forgot to switch to IDLE UP, went inverted and... I now either leave Normal FM at 0-0-0-0-0 or some kind of flat throttle curve.