Muting Separate Audio Segments

Is it possible to mute a separate audio segment on a track instead of muting the entire track?

If you want to permanently mute a section, you can just select it, then “Ctrl + L” (Silence Audio).

Or you could select the selection and use Edit > Clip Boundaries > Split New

This would then move the selection to a new track thereby enabling you to mute that independently of the donor track.