Thank you for your feedback. This feature is still on the backlog, and planned for later this year.
In the meantime, you can try using the keyboard shortcut to toggle mute (Ctrl+Shift+M). For more info on keyboard shortcuts, visit https://support.microsoft.com/en-us/office/keyboard-shortcuts-for-microsoft-teams-2e8e2a70-e8d8-4a19-949b-4c36dd5292d2.
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