@Alex-Kushleyev Thanks for detailed information and analysis. I am going ahead with further testing with this ESC as per your suggestion.
I have changed my propulsion system as follows: Emax Eco II seroes 2306 2400kv motor, propeller Gemfan 5177 and 15000 mah 4S battery.
Here is my file with ESC calibration : https://drive.google.com/file/d/1uzbx9MGwF1EvRqJx6tXBqqc-j3XZSgu_/view?usp=sharing
All the motor directions are checked and they are correct as per airframe reference. My UAV is able to takeoff a bit but at around 0.5 meters it again decreases its altitude and then after scratching the surface is flipping over.
Here is the logs : https://review.px4.io/plot_app?log=08691d7d-887d-41d8-b00d-d543febeea59
Can you spot is my ESC configuration wrong or anything I am missing in PX4 configuration? This flip happened twice in a row and all motor direction are verified to be correct since UAV is able to takeoff. Also any advantage of RPM vs PWM control in VOXL ESC PX4 parameter setup?
Also my voxl2 is unpside down so I have set ROLL_180 in Autopilot orientation, but is this creating some problem anywhere is unknown since I can see yaw reset EKF2 estimator flag set as soon as I takeoff.