I initially thought this sequence was going to be pinful in the crotch area. However, it was not. I personally do 3 things:
1. As you said, make sure the belay has some slack to have that extra space.
2. Always pull up first to create some slack to move through the wrap and “land” in a comfortable position. In this sequence that action of pulling up happens twice: in the climbing up from the knee hook before the neck hang and also in the last inversion after the neckhang (before the drop).
3. Keep tension in the legs at all times.
Hope this helps 🙂