Hi Everyone.
We understand your concern about the “Live” feature appearing on the admin top bar after the recent update. We appreciate the feedback and understand how this can be confusing, especially when working with staging and live sites.
Currently, there isn’t an in-built option to disable the “LIVE” label. However, you can remove it by adding a specific code snippet shared by @lhornaday or another one found here.
However, The team is already aware of this issue: https://github.com/woocommerce/woocommerce/issues/51389
At the time being, we can’t give you an estimate for when the team will look into or fix the issue, as bug reports are prioritized based on a few criteria. Please subscribe to the GitHub issue if you’d like to receive updates.
We appreciate your patience and understanding as we work to improve your experience with WooCommerce. Thanks!