If there is a rigid vertical support anywhere along that vertical run, the vertical component of slug's change in momentum will load the restraint rather than cause the piping to move off its centerline and produce a bending stress. In this sense, there is little reason for a CAESAR II evaluation of that vertical component.
While the vertical component of this slug load causes no bending stress, I would ensure that the pipe/support assembly can withstand two times the calculated change in momentum load (i.e., DLF=2).
The load requires consideration, it may not require analysis.
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Dave Diehl