You would need to change track layouts as mentioned for a master folder track, it wouldn't happen automatically.
A similar but in my opinion simpler solution is through the use of track templates. I do similar with Audio Bus, FX Bus, VCA, and Midi tracks. What you do is insert a track, change the layout of that track which includes a red fader like you want, resize it to your preference, etc. Be sure to adjust the TCP and MCP layouts if you want them to match. Once you have everything setup to your liking, then right click on the TCP and select "Save Track as track Template". Give a name such as "Folder Parent Track". Once you have that layout saved as a track template, then you have multiple different ways of easily recalling that track template. You could create a toolbar button to insert that track, where everything you included in the track template will be instantly recalled. You could go to the explorer window, drag and drop that template into the project. There's even a SWS action command to change an existing track with a saved track template although I've struggled getting that to work. Unsure if it's a bug in the SWS extensions or if I did something wrong. Essentially there's a lot of options once you setup some track templates to more easily achieve what you want.
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