Hi @vamsi52 

Not sure if your requirement is in workspace , but if its in workspace then you can remove it from Form action layout.

1. Navigate to Form action layout

2.Search with your workspace name in Action config column

e.g., here i have taken Asset management 

3. Open that record and in 'UX form action layout Item' related list you will find the button you want to remove

From here you can remove that button entry.

OR 

If you want to hide it from particular user or any other condition then you can use condition field for that button.

Not sure if this is what you are looking for...have a try...!!