The parachute does spawn, and the player gets in to the animation, but no hanging backpack. And the landing, (as said earlier) is a bit rough! I get injured all the time, and we use CSE's CMS.
scooterperpetual is right, there is a Backpack called T-10 in VAS
BUT
When ejecting and opening parachute, it's just a ordinary parachute, not the T-10.
I guess its just used for the backpackmodel, not initializing the real chute.