How to hide the CodeInsight status panel

The new CodeInsight status panel added in 10.4.2 can be very distracting with its busy progressbar. Unfortunately there is no builtin mechanism to hide it but doing so is very easy.

Edit: Apparently as Lachlan pointed out on the comments I totally missed the "Code Insight Activity" toggle in the Options dropdown of the Project manager toolbar:

I leave the obsolete way here for documentation - here is the code to add a toggle button to the projectmanager toolbar (adding an icon is left as an excersise to the reader):

unit ToggleLSPStatusPanel;

interface

procedure Register;

implementation

uses
  System.Classes,
  Vcl.Forms,
  Vcl.ComCtrls,
  Vcl.ExtCtrls;

var
  LSPPanel: TPanel;
  ToolButton: TToolButton;

procedure TogglePanel(instance: TObject; Sender: TObject);
begin
  LSPPanel.Visible := not LSPPanel.Visible;
end;

procedure Register;
var
  e: TNotifyEvent;
begin
  var projectManagerForm := Application.MainForm.FindComponent('ProjectManagerForm');
  var toolBar := TToolBar(projectManagerForm.FindComponent('Toolbar'));
  ToolButton := TToolButton.Create(nil);
  LSPPanel := TPanel(projectManagerForm.FindComponent('pLSPStatus'));
  ToolButton.Left := toolbar.Width;
  ToolButton.Parent := toolbar;
  TMethod(e).Data := nil;
  TMethod(e).Code := @TogglePanel;
  ToolButton.OnClick := e;
end;

initialization

finalization
  try
    ToolButton.Free;
  except 
    // simply swallow the exception when closing the IDE as 
    // it will already have destroyed the button
    // feel free to make this more robust
  end;

end.

Simply add this unit to a designtime package and install it. Enjoy!