I've done very similar before with steep and shallow, but I don't have the extensions enabled right now. There is a setting where you control the tool axis vector, you then would select "from curve" or "away from curve", something like that, and select a curve similar to what I show below. The tool axis will always go though this curve, so it makes a really smooth path.
However, Fusion does not currently support undercutting, even in multi-axis. There is a way to make a very small undercut, which you will have to cheat to enable, but in your case it might not work... I explain:
1st, you need to define your ballmill as a lollipop cutter, with a very tiny shank. In your case, you need to say 1/2" lollipop with say 0.001" shank diameter. I would then do undercuts... but I believe only to what the tool would be able to reach as viewed from the tool orientation in your operation. It means you would be able to do a 0.2495 undercut maximum (with the 0.001" shank). And in your case, it is not enough unfortunately.
To prove this, make the top of the pocket bigger, so that as viewed from the top, you'd be able to see some of the bottom radius you want to cut. That would enable some undercutting, providing you define the tool as I said.
Then you have to imagine that this is a ballmill with a 1/2" shank, and decide if the shank would hit anywhere or not (in real life). In your case I think it would be fairly easy to determine that if there is a tilt bigger than the inner wall, it would be safe to go with the ballmill in real life.
But again, you will have to make the top of the pocket bigger, which is probably not allowed for your part. Play with that tho, it's really nice with steep and shallow.
Now to make this actual part with Fusion, I'm afraid you will have to resort to indexing a few times and do a 3-axis path.
