The way a thermal OL relay works is that there are two defined points in time and current, and an I2t curve between them. The first point is the "pick up" point, being where the overload begins to trip. That is NOT the actual setting, although the setting determines it. In IEC type OL relays, the pickup point is 117-118% of the motor FLA. for NEMA OL relays it is 125%. Below that point the relay will hold indefinitely, above it, the bar starts to move inexorably toward tripping within 2 hours. The higher the overload percentage, the faster it trips. The other end of the curve is determined by the "trip class", defined as a maximum time at 600% of FLA. Class 10 means at 600% it must trip no later than 10 seconds, Class 20 = 20 sec., etc.
63A on a setting of 53A is only 118%, I would not expect it to ever trip. Now, some IEC OL relays have a phase loss differential bar that biases the trip pickup point lower if you don't have current on all 3 poles. So it likely would eventually trip, but in minutes, not seconds.
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