Gunicorn has an option for this[1] so you could enable it on your production server, although I don't think that's recommended.
One problem with this approach is what happens when you're updating multiple files. If the server restarts immediately on the first change, you end up loading a mix of old and new files, which probably won't work properly. But if you delay the restart to wait for all the files, how long do you wait? If the delay is too long it's confusing and annoying (did the server restart yet?) and if it's too short you get mixed versions as before.
So it's better to explicitly signal when it's time to restart. You can still have automatic restarts in the development environment.
Assuming you get a new "event" every time a file in the watched folder changes, you could restart the count.
Ex. First even triggers a 5 seconds wait. If before those 5 seconds have passed there is another trigger (say after 1 second) another 5 seconds wait starts, for a total of 6 seconds in this example.
One problem with this approach is what happens when you're updating multiple files. If the server restarts immediately on the first change, you end up loading a mix of old and new files, which probably won't work properly. But if you delay the restart to wait for all the files, how long do you wait? If the delay is too long it's confusing and annoying (did the server restart yet?) and if it's too short you get mixed versions as before.
So it's better to explicitly signal when it's time to restart. You can still have automatic restarts in the development environment.
[1] https://docs.gunicorn.org/en/stable/settings.html#reload