If it's a gust of death, dump sails a bit, don't fully release them, and point up. If you have the hands and time jib first. Short handed and too late, you can hopefully reach main and helm almost simultaneously.
It's good to practice this so it's committed to reflexive memory, and doesn't need you to think too much when it's a surprise.
You really want to avoid being caught rotten so although it's not directly answering the question I'll share a bit on avoidance and consequences.
In my experience these kind of shock blasts that are way over the nominal wind speed often occur in the lee of land with high mountains. You can reduce the chances of this nasty surprise by keeping more offshore where there are high peaks. If you need to sail through this kind of area, you should try and make sure it's daylight, and keep your eyes on the water in the direction of the wind so you can spot them coming. If that is also not possible, it would be prudent to reef down a lot more than you might think needed.
A monohull keelboat should as previous answer be able to absorb the impact and recover. It may also broach, reducing the rudder's grip, and thus allowing to boat to naturally point up. In a proper knock down things indoors will be very messy and people not tethered on deck can easily be lost overboard.
If you are on a catamaran, things are very different. It doesn't have the natural circuit breaking tendency and will try to convert all energy into speed until it suddenly can't, something either breaks or it capsizes.