No correction with cyclic*, DUMP THE POLE, haul it in in the usual place (no check, just haul it in), try to avoid the load.
*400 feet is the top of the HV curve for the 206, but you're longlining, so you're likely in a place where speed won't help anyway. In any case, I'm very comfortable with a vertical descent.
As Shawn says, learn to recognise the symptoms. The type of machine determines the recognition time - 500 not so much, 206L, time enough to make a coffee
Phil