Plugins may be bypassed or deleted via the Track Inspector's Effects tab (Audio) on both the Edit and Fairlight Timeline.
Plugins may also be individually bypassed by toggling the dedicated red Bypass toggle switch in the plugin window.
Plugins may also be disabled, bypassed, or deleted via the Fairlight Mixer's Insert section. Ensure that the "Effects" and "Effects In" options are enabled in the Fairlight Mixer's Additional Options (3 dots) menu.
Refer to:
Resolve 17 Manual | Page 620 | Chapter 37 | Using the Inspector in the Edit PagePage 3245 | Chapter 172 | Audio Clip Specific Inspector Adjustments
Page 3297 | Chapter 175 | Audio Effects