This feature request is still being reviewed by the feature team.
-WarrenBob Kiholm commented
I manage a good sized operations team and we have adopted Teams as our standard. There are a lot of great features, but the lack of this feature is definitely a pain point for us. To many other's points on this, we need the ability to hide, (or control in some way,) a GIF on the receiving end of a message. It should not be required for my team to request that the sender deletes a GIF from their message stream so that they don't have to see it. Each user should be able to control what shows up on their screen. In a case where someone is presenting in a meeting and they receive a GIF that is not meant for that audience, it would be nice for them to have the option to not have them show up or something similar. We are working hard to make Teams work for us, but this really should change. There is rarely a time when a GIF is required to convey a message that words can. They are fun for messaging friends but they are definitely not necessary for running our business.