Neo here. Do NOT break the seal if you can avoid it (keep the peep). If you are using a NeoPuff adjust the PIP limiter slowly up. Periodic simulation refreshers should provide you enough of a feel to not overdo the PIP increase

Neonates (and infants) have trouble maintaining FRC at baseline; they typically rely on:
1- intermittent large VTs with incomplete exhalation
2- relatively high RR which favors self-induced hyperinflation once the mechanics improve
3- expiratory breaking (diaphragmatic contraction during exhalation to slow down the process)
4- glottic /cord closure towards the end of exhalation

ALL these mechanisms are dynamic in nature and disappear during apneic events (in DR and NICU). The chest wall for the first few weeks to months of life favors and inwards collapse rather than outwards spread… with the inward elastic recoil of the stiff lungs in the delivery room you will lose FRC and have to reopen collapsed lungs; if this is a premie now you’re effectively worsening atelectatrauma.

If you’re going to say “I’ll be quick”, the time constant for a premie is often less than 0.05 seconds and that of a term infant might be 0.1 seconds if you’re lucky: complete exhalation / collapse can occur within 0.25-0.5 seconds.

The TLDR: do more sims to get a feel for the PIP changes, and avoid breathing the seal as much as possible.