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When Change request is Approved, all subtasks that are "Ready for Approval" status are moved to "In Development"
Once i change the status to "Change Request Approved" in the parent ticket then all the subtasks status would need to set as In Development.
Please help me out on the same.
Those images do not match your question. They do not show the parent issue being changed to Approved, but rather to Cancelled.
That is the problem you described in another post that I have linked below and to which I've already provided an answer. Please refer to my answer there.