Can I configure AC Power Restored option via iDRAC on a Dell PowerEdge server?

Although Twisty's solution is probably the easiest, it requires OMSA to be installed.

You actually can change this setting using the iDrac8, but from command line only.

To do so, SSH into the idrac (using puttyor whatever your ssh client is). Then, enter those commands:

racadm set BIOS.SysSecurity.AcPwrRcvry Last # Possible values: On/Off/Last
racadm jobqueue create BIOS.Setup.1-1 

I don't believe this setting can be changed through the iDRAC. However, according to this Spiceworks thread you can change the AC Power Recovery Mode option through Dell OpenManage Server Administrator:

In OMSA you can select the "bios options" under the "main system Chassis". There you are able to change the "AC Power Recovery Mode"