This is actually a question on which parameter takes the precedence if both properties are set, but with different values.
STATUSRETRY in the BW_ACTIVATE_CHAIN script element
and
Repeating status check in the R3 connection
Release : 12.3
Component : AUTOMATION ENGINE
These are two different parameters.
BW_ACTIVATE_CHAIN always uses the parameter STATUSRETRY
BW_ACTIVATE_INFOPACKAGES uses the parameter "Repeating status check" from the connection object, as stated in the documentation of "Extended InfoPackage Monitoring"
https://docs.automic.com/documentation/webhelp/english/AA/12.3/DOCU/12.3/Automic%20Automation%20Guides/help.htm#AWA/Objects/obj_Connection_R3.htm?Highlight=Repeating%20status%20check