there is a mod by jedijosh which has the features that GTAO has when you die, but it slows down the game like the singleplayer death screen does, it does work with "watch your death" but it doesn't show the "WASTED" screen, combining these two might allow you to have the experience you want.
here's jedijosh's mod: https://www.gta5-mods.com/scripts/respawn-faster
Good luck.