In Windows 11/10, you can easily adjust the volume level of individual devices and apps, in some cases, you may just want to mute and unmute the volume as needed without affecting the set volume ...

Lightweight gaming headset featuring comfortable design, flip-to-mute microphone, and multi-platform compatibility-perfect ...

According to illumin8, implementing the microphone mute function in software would be less costly in terms of component requirements than physically disconnecting the microphone circuitry.