Favorites menu
How to erase an item from the favorites menu?
iMac 21.5″ 4K, macOS 12.4
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If you are referring to the bar directly under the web address bar (where you type in the URL you want to visit), all you do is click and drag things off the Favorites Bar. Alternately, you can open the left side panel in Safari, click on Bookmarks, click Favorites, and then right-click on the ones you want to delete.
Here is some more information on using Favorites in Safari - Add websites to your Favorites in Safari on Mac - Apple Support