I have attached a hand drawn example of the ‘wavy line’ symbol indicating a truncated object
What you are looking for is called a ‘pipe break symbol’. As above, a search suggests the BREAKLINE command, using a block, is one possibility.
What you have drawn in your own sketch is incomplete in those terms as the convention is to use three arcs.
If you only want two arcs, and there is an automatic way of doing it, you would have to delete one of the ‘factory’ items after insertion.
For what it is, two arcs meeting on the centreline of the object, would it not be simpler just draw to them thus as two individual entities?
You only need to do this once per drawing as you can then copy and scale them thereafter.