You can use another method to display a PIP at any time:

Add a second Playlist.
Add several cues
Leave the cue 1 empty as usual

Use the copy/paste tool to copy cue 5 into playlist 2 in the second position.
Then use the multi delete to delete cue 5 and 6 from playlist 1.
The PIP can now be launched at any time over playlist 1, completely independently.

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