I would love the ability to mute notifications on reams meetings, the amount of notifications you get when someone replies to a message chain can be super annoying and distracting.
Setting your status to "Do Not Disturb" will mute all notifications. For each channel in Teams, you can modify which notifications you get (click the 3 dots next to the channel name, go to "Channel Notifications", and adjust). If you mean thread-specific, like "Mute the conversation started an hour ago", I'm not aware of that option.