The derailleur has a max. chain wrap capacity (listed by Shimano) of 29t. Your max. chain wrap requirement, even if you were to shift to the small ring/smallest cog combo with the 53/39 chainrings and 12 x 27 cassette, is 29t. So it should work in all combo’s with the setup you describe, according to Shimano’s own specs-
An important part of a rear derailleur’s job is keeping the chain taut as you change gears. Chain-wrap capacity is a number that tells whether or not a derailleur will be able to do this on the drivetrain you plan to use it on. Calculate chain-wrap capacity with this formula: Chain-wrap capacity = (large chainring – small chainring) + (large rear cog – small rear cog). Example: 44/29 chainrings and a 11-28 cassette: (44 – 29 = 15) + (28 – 11 = 17) = 32-tooth chain-wrap capacity.