It is a nice starting hand in the sense of being pretty good/above average. But think about the situation: UTG opens (strong range), CO 3bets (very strong range), now you're out of position, you have to put in a ton of $ to continue, and the betting's not even closed. Overall the situation is about as unfavorable for you as it possibly could be, so you can only continue with the very strongest hands. I'd say AA**, some premium double-suited hands, and that's it. It's a very narrow range but the situation has developed in such a way that no other hands can be played profitably.

Agree with the preflop fold. Wanted to provide some more thought to how you can evaluate future situations. When calling preflop, you should generally be thinking how you'll make money postflop. This typically comes from skill advantage, positional advantage (relative and absolute), and card advantage (EQ & situational playability). As stacks get shallower however, EQ and relative position increase significantly in importance, while the remaining advantages lose importance (the opposite is true as stack depth increases).

In the current situation, you are at an EQ disadvantage to both UTG & CO's range. Further your relative position is terrible (think about how difficult it will be to play your medium strength hands on the flop). All of this is made worse by the fact that UTG will 4B a decent amount of the time.

TY