Chute to drop a key?? That's too much, something that light should be dropped by streamer. Less vulnerable to wind and more reliable.
Long, long ago I did model rocketry. Using too much chute was not a good thing because it could go so far off course. The high power rocket guys do it with two chutes--a drogue that deploys high and then the landing chute that deploys low. But that requires electronics and certifications and the like. In the lightweight stuff there's nothing fancy, just a delay built into the engine after which it burns through the top, momentarily exhausting into the interior.
Long, long ago I did model rocketry. Using too much chute was not a good thing because it could go so far off course. The high power rocket guys do it with two chutes--a drogue that deploys high and then the landing chute that deploys low. But that requires electronics and certifications and the like. In the lightweight stuff there's nothing fancy, just a delay built into the engine after which it burns through the top, momentarily exhausting into the interior.