It looks like the Emco has a variable speed drive, in which case you can slow the spindle down as you approach the end of the thread. Since the available torque approaches zero as you decrease the spindle speed you should give very good control to stop threading at a precise point. I would still cut the groove but you should only need to make it only a thread or two wide.
On my Atlas lathe, I would purposely loosen the drive belt to reduce available torque to accomplish the same thing. It would cut the thread but if it ran into virgin territory or up to a shoulder, the belt would slip and the spindle would stall.
On my Atlas lathe, I would purposely loosen the drive belt to reduce available torque to accomplish the same thing. It would cut the thread but if it ran into virgin territory or up to a shoulder, the belt would slip and the spindle would stall.