While a decent idea, is there anything in the game which has an activation based on holding a button? I ask this because if there is not then that would mean they would need to add that to the coding to allowing "holding the button" to be used as an indicator for selection.

It might just be easier to have a checkmark which states

"Confirm Decline" If it's checked it will Confirm if you want to decline if it's unchecked it won't confirm if you wish to decline.

This would be easier to implement then a hold button to confirm because they already have something like this under the Emote tab that say "Display Log Message" if unchecked your emotes will never show when used but when it's checked it will show the text of said emote.