We investigate ionic fragmentation of CO${}_2^{n+}$~($2\le n\le 4$) produced in collisions with Ar${}^{q+}$~($4\le q\le 16$) projectiles at a collision velocity of $\approx$_0.3a.u., where electron capture is the dominant ionization mechanism. We report kinetic energy release distributions (KERDs) for the observed ionic fragmentation channels, for the cases where charge state of the projectile reduces by $\Delta q=1,2$, post-collision. For most projectiles, the KERD for $\Delta q=2$ is observed to be broader than that for $\Delta q=1$. The difference generally diminishes with increasing projectile charge. Two deviations are seen in the fragmentation of CO${}_2^{3+}$, one for Ar${}^{4+}$ impact in the high KER region and the other for Ar${}^{6+}$ impact in the low KER region. The calculated reaction windows for multielectron capture within the framework of the extended classical over-the-barrier model (ECOBM) indicate that while ionization of the target occurs via multielectron capture, the scattered projectile can subsequently undergo multi-fold autoionization. The observed correlation between the KERDs and the post-collision charge state of the projectile demonstrates a dependence between the excitation of the target and that of the scattered projectile.