Usually it is sufficient to set an onchip breakpoint to the reset address. A functional reset will not reset the debug logic and breakpoints remain set.
If you have a destructive reset to deal with, or if the BIST is involved, the debug logic is reset. In this case, you need to set SYStem.Option.ResetDetection so that the debugger is able to see the reset on the reset pin. This requires that your target hardware is built in way that the reswet pulse is visible on the debug connector. Please refer to debugger_mpc5500.pdf to find out which SYStem.Option.ResetDetection is suitable for your target.
Regarding SYStem.Option.RESetBehavior, you can use ResetHalt or AsyncHalt. Again see debugger_mpc5500.pdf for a description if the available options and their respective behavior.