If you are still looking for a solution, I had a similar issue with bypassing inserts and sends.
To cut a long story short I was able to build a Cubase macro as a workaround until Steinberg hopefully add the feature/short keys. The macro example I show is set to bypass Inserts but you should be able to modify it by changing the Insert command to a bypass Chanel strip command which is also available in the Key editor. Try it out and let me know if it worked for you.
I think I have found a way to assign a short key for bypassing the Audio Inserts that also works on Instrument and sampler tracks.
I created A Macro and for my workflow this seems to be the best solution until Steinberg either create a short key for bypassing selected/focused tracks.
This approach has its draw backs and I will start by listing those.
You can not have the Mixer in the Lower Zone Open (ALT+F3) when using my version of the short key. If the (ALT+F3) Mixer is open the …