You can only set this up with a subscription product and what we call ‘bundle subscription’. You can basically set up a subscription for your live stream and then attach the PPV Recording/VOD to this live stream. Those who have purchased the live stream can watch it for free and those who have not will need to purchase the VOD separately. Please see this for more information https://docs.wpstream.net/docs/multiple-subscription-plans/
Regarding auto-create, are you referring to automatically creating a VOD after your live stream? If yes, that is not possible because you will need to edit the VOD before publishing. This includes the title, bio, featured image, and whether you wish to create a Free to View VOD or Pay Per View VOD.
Hope this helps and please let us know if you have further questions or concerns!