I could definitely be wrong, but I don't think that will work on the player. If you make the PC essential (through an alias, most likely) this may get you most of the way there:
ScriptName PlayerRespawn Extends ReferenceAliasActor Property PlayerRef Auto ;player referenceObjectReference Property RespawnMarker Auto ;player respawn markerEvent OnEnterBleedout() PlayerRef.MoveTo(RespawnMarker)EndEvent
I think you'd also have to end the bleedout quickly either by changing a bleedout recovery time variable or doing something similar in the script (possibly cancelling the animation, healing or the like). I don't remember if you can change the bleedout time in the alias/actor settings or if you'd have to change a GMST variable, which may not be ideal.