Not that I know of. WaveLab already has the “Dyn” option for plugins but that doesn’t seem to deactivate plugins enough to cease communication with hardware units.
Maybe PG knows of a way to make it work that way for a future WaveLab update but last time I tested WL12 for this, my Bettermaker EQ was still confused by having more than one plugin instance in a single audio montage, which I did using Clip Effects of course.
I think with the growing number of plug-in controlled hardware units like Bettermaker, Dutch Audio, etc. that it would be a good feature addition but for now, I haven’t been able to get Bettermaker or Steinberg to make a move for improvement here so for now, my REAPER script is the best way (in my opinion) to use the Bettermaker units in mastering session context.
Every other method (including automation, snapshots, presets) is a compromise.