Hello Rob,
Thanks for sharing this issue on this forum.
I understand that you are looking to remove a Loop component from a recurring calendar event, you can manage your tasks using Loop Task Lists and Planner tools. To delete a task or plan, you can follow the troubleshooting steps through this: Delete a Task or Plan.
And also, if you need to manage tasks from Loop Task Lists, you can refer to Manage Your Tasks from Loop Task Lists for more detailed instructions.
If all is resolved, feel free to mark as answer for this thread. Otherwise, please let me know if there's anything else I can help you with.
Best regards,
KushTech || Microsoft Community Support Specialist.