It would be awesome to be able to add automation rules for Features or Epics. For example, if a Feature state is set to At Risk, then the related Epic & Initiative can be set to At Risk. Or, when the first feature related to an Epic or Initiative is set to it's first state, then the Epic or Initiative state is set to a corresponding status.
You can create automation rules for features, epics and other records in Settings ⚙️ -> Workspace -> Automation. You will need to have workspace owner user permissions to create automation rules. Please see this article Aha! Roadmaps | Automation (Enterprise+) and reach out to our Product Success team at email@example.com if you have any additional questions.