The most iconic feature of the SR22 is the parachute function. It’s fun to use on the HMB freeware airplane in Xplane.
The flight model definitely needs some adjustments until this would be a good feature so take your time but I’d love to see this one day.
I noticed that the SR22 comes equipped with a parachute - which you unfortunately can’t deploy.
I think this would be a great addition.
This would be a very cool feature and make the Cirrus as unusual in FS2020 as it is in real life.
Note that the parachute on the TL-Ultralight Sting S4 by FSReborn is functional:
Personal Comments
It’s likely a limitation by Cirrus Aircraft Company in terms of what can be modeled. I can see their Legal Department frowning on the idea that there would be images of the MSFS SR22 with the BP deployed under inappropriate circumstances.
I have deployed the parachute. I just can’t remember how I did it. It was a keystroke. Worked well.
Just pull the handle in front of the yoke. 
Just a heads up, it was announced that CAPS will be featured on MSFS 2024.
Not sure about the SR22 but it was confirmed for the Vision Jet - so if the SR22 will be part of the next iteration (which is likely due to the new model) it may also feature CAPS.