Feh lets you configure its actions for keyboard keys and mouse buttons. See its manpage for further information, and this post in the official Raspberry Pi forum. The action to exit feh is called quit in its configuration files.
So, maybe you could configure a quit key in feh and set a very high delay time in Retropie. Just an idea after a little research, I don't have any practical experience with this.
@mitu I actually figured it out late last night. As I was trying every game file I thought that there had to be something wrong with how the images were being called up. I looked again at both my es_systems.cfg & emulators.cfg and realized that I had it pointing to pcengine not pcenginecd. I must have looked at those ten times without realizing my mistake.
I knew I was doing something stupid. I guess I really should have stepped away from it for a bit.
@meleu I ran the script today for the first time and installed an overlay for elevator.zip. It placed everything in the correct spots but no overlay appeared in game. It did say that the elevator preset was active. I also noticed that the elevator preset became active on all mame roms after running.
I'm on a pi4, newest build. I removed the elevator.zip.cfg file in the ROM directory and was able to get the overlay working. Just wanted to post what happened to me since I'm on pi4 and there hasn't been much feedback.