I wonder if Boba Fett cancels the ghost title card. Would the shuttle be able to deploy at all? To me it's fair if the shuttle dies with the big ship since the device that launches the shuttle is damaged.

The phantom becomes locked into the ghost but the phantom will be deployed with a facedown damage card when the Ghost is destroyed. I'll fetch some literature in a sec.

Edit for fetched literature:

"If the carrier ship is destroyed (but has not fled the battlefield), before it is removed from the play area, each docked ship receives 1 facedown Damage card and must immediately deploy. Ships deployed in this fashion cannot attack until the following round."

I just pulled it off the wiki.

You'd also lose the ability to make primary attacks out of the special arc and take the second attack because your titleless VCX-100 no longer meets the requirements of the Phantom title.