I would like to see something like this for the in-game mod manager.
I don't mind casting VFX or casting animations, but anything that is daily or perma visual, especially spells that have a halo or a spinning geometric circle/square whatever or anything that reskins the character. Examples would be spells like longstrider or barkskin, armor of agathys, sunlight, warding bond, death ward, hex etc. All that stuff that is always on.
In an ideal world there would be a hotkey similar to way the tilda ~ key works for highlighting everything currently, but to disable spell vfx or sfx by duration. E.g a toggle to hide that stuff similar to how one might want to hide the UI.
I think it also makes sense to retain such animations for the enemy, so not like a global on/off switch, but something that only effects the active party. That way we can still see which random goblin has caste armor on themselves.
To complement maybe a more a visually compact display for the party's status icons