100% depends on the airplane and the situation.
In the F/A-18, if I lose an engine (especially #2) and I’m not otherwise in extremis (fuel state, fire, etc), I’m getting away from the ground, getting things suitcased, coming up with a good gameplan, and then executing said gameplan.
I don’t like to be reconfiguring, securing engines, running EPs, etc in close proximity to the ground unless it’s VERY necessary.
edit: just realized you said part 121. My bad. Anyway, I’ll leave my line of thinking as food for thought.