I don't know the code you are using, but assuming it is B31.3, The SIF and Flexibility factors are restricted by max. D/T =100.
The other issues are for such large diameter pipes to check for local stress issues at support points which can be done using simple and well known KELLOG FORMULA ( this is based on uniform loading around a circumferential ring) or FEA.
The other issue of the ovalization of the cross section at support locations,is again local and will not affect the global results is any significant way. I have checked this against some FE work I did using shell based models.Even the high local stresses at Shell/shoe ( for such large pipes, they will not be rested directly on steel) in many cases are singularity stresses and hence are not significant.
So, you can use CAESAR II , provided you keep the above things in mind.This is my personal opinion .
Regards
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anindya