Stop Django Rest Framework API execution and return appropriate response

Question

I am writing an API function using Django Rest Framework where it accesses many resources like AWS, Database, External APIs etc., I want the API execution to stop if it fails in any of the steps and return an appropriate response.

I initially used ValueError to raise exceptions manually when something failed, but this resulted in traceback being printed in logs for manually raised exceptions, and the logs became messy.

Later, I used separate except statement for "ValueError" and "Exception" but this led to traceback not being printed for naturally occuring (not manually raised) exceptions and debugging them were hard.

So I created a custom exception which takes an error code, and an error message like below.

class CustomException(Exception):
def __init__(self, status, msg):
    self.status = status
    self.message = msg
    super().__init__(self.message + ': ' + str(self.status))
    
    def __str__(self):
        return 'ErrorCode: ' + str(self.status) + ' ErrorMessage:' + str(self.message)

And I came up with the below code structure for the API function,

def place_order(request):
    err_msg = 'Problem in placing order. Please contact us'
    try:
        response = get_product_details_from_db()
        if response.status == 0:
            err_msg = 'Failed to get product details from DB'
            raise CustomException(0, err_msg)

        # Do something...

        response = access_aws_s3_files()
        if response.status == 0:
                err_msg = 'Failed trying to access s3'
                raise CustomException(0, err_msg)

        # Do something...

        response = call_external_api()
        if response.status == 0:
            err_msg = 'Failed in accessing external API'
            raise CustomException(0, err_msg)

        # Do something...

        response_data = {
            'status': 1,
            'order_id': '1235'
        }
    except CustomException as e:
        response_data = {
            'status': e.status,
            'error_message': e.message
        }
    except Exception as e:
        traceback.print_exc()
        print(e)
        response_data = {
            'status': 0,
            'error_message': err_msg
        }
    return Response(data=json.dumps(response_data), status=status.HTTP_200_OK)

Is this the standard way of handling such things? Is there any better/alternative way we can handle this ?