"If the produced secondary voltage from any of the parallel CTs is higher than the other, it would supply the excitation currents for the remaining CTs in parallel - Both for Internal and External faults. Is it correct? "
For an external fault, one CT will have current out of the zone and at least one will have current into the zone. Assume there is only one source and one faulted outgoing circuit. Each CT will create the necessary secondary voltage at its terminals to push the required current through its secondary circuit, minus its excitation losses. I like to think that one CT is pushing current and the other is pulling it so they are sharing the burden. The two internal voltages will be 180 degrees out of phase. If the CT's are similar, the combined secondary voltage will be about half of the voltage for a an internal fault. The other CT's in parallel will have the resulting voltage impressed on their secondary terminals. The non-linear impedance of each CT, as depicted on its Voltage vs. Current excitation curve, determines how much excitation current it draws from the secondary circuit. Any leftover current goes through the protection relay coil.
For an internal fault, only one CT is pushing current through the secondary circuit of the relay coil and the paralleled CT secondaries. Its excitation voltage is higher so the excitation currents drawn by the other CT's will also be higher. If any CT's terminal voltage goes above the knee of its V/I curve its excitation current is much larger due to the saturation. At some point, the leftover current through the relay coil is below the expected pickup.
For external faults, the driving voltage impressed on the secondary circuit is much less.