PK4. That was not a loss of thrust scenario. Loss of thrust = land at nearest suitable airfield. At the time it might well be in front of you.
I flew for one operator whose SOP was, engine failure on finals = G/A. The FCTM said captain's discretion. Mostly there is time to continue and if you become unstable at DA or above then G/A. A surprise SE G/A is not something to be rushed and thus I would hope the approach is continued for a short while to stabilise the a/c before initiating the G/A. It maybe that in doing so you stabilise enough to land. My point is this; how much do you let the captain decide on the day and how much you write into SOP's and give no choice? I know you are allowed to deviate from SOP's in the name of better safety, but how many would risk that. I still reflect on the astonishingly excellent unheralded job done by the RYR captain at CIA. Outstanding.
It is a topic for general discussion. Someone intimated about having a thread of "what would you do?" An excellent idea, into which this might fit.
But, as has been said; let's wait for all the facts on this one.