That should be doable since the option selection is stored with the basket, the subscription, and POST data so it's possible to pull that value from either in CB Auto Actions. The main issue will be how you've defaults setup. You'd need to have admin approval enabled by default in CB > Configuration > Registration so that you're turning it off rather than on.
As for what trigger to act on. Probably best to do this the same way CBSubs does. Directly before registration is completed. So the onCPayBeforeUserRegistration trigger should work here. It has limited information in it as follows.
Code:
$_PLUGINS->trigger( 'onCPayBeforeUserRegistration', array( &$chosenPlans, $row ) );
Basically only have the array of plans selected in addition to the user being registered. So this is doable, but it will take PHP experience as you'll be overriding the registration behavior of CBSubs. For example the below will force the registration approved, but needs additional checks like checking the option selection from POST data.
Global
Triggers: onCPayBeforeUserRegistration
Type: Code
User: Automatic
Access: Everybody
Action
Method: PHP
Code:
Code:
global $ueConfig;
$ueConfig['reg_admin_approval'] = 0;
return true;
Output
Display: return