Kyong,
if I understand well, your axis should be free to bend, but the end sections have to keep perpendicular to it though their centers follow the axis. If this is the case, unfortunately I don't see very well how to model it with CosmosWorks since it doesn't have "constraint equations" like in Ansys for example. But I think this wouldn't be a problem because the normal behaviour of the cylinder will achieve approximately this, unless external loads force the end sections to behave differently.
On the other side, if the axis will remain straight even with the loads applied (i.e. the loads have cylindrical symmetry), then "restraint -> on planar face" will give you good solutions, as you can refer also to a CSYS, which will allow you to control things like "no tilt / no twist",... and also with the reference axis the options seem to me satisfactory: If you want to investigate the stress rise due to thermal expansion, you have to constrain the axial displacement of both sections, so you wouldn't have to run twice the solution (first to determine free elongation, second to determine corresponding stress).
Regards