It should only do a parachute drop when you choose to spawn random location in one of the map regions. If you built a bed perfectly on top of a random spawn point it would result in a catapult bed, but that would be super unlucky. Lol

It's a normal parachute, so you can control it like you would normally. The chute opens automatically when you get to minimum distance, but you can press the R key to open the parachute earlier in the free fall.