How do I hide the "Featured Templates" section from the menu?

I don’t want to activate “components only” mode at this point, but we have no need for the featured templates and it’s quite confusing to editors.

Hi so components only mode is enhanced now.
There is more control, just enabling component only prompt to you to a popup with Component setting.
keeping The rest of the options enabled and just disable '‘Use default style’ hides the featured template only

Thanks @ahmed_builder, however I do want to keep the ability to edit styles. I just don’t need the featured templates.

Thanks @JonathanLand for pointing this out.
Right now we don’t have an implementation for that specific use case.
I highly recommend to submit it as a feature request here
our product team usually look there for future feature request.