In the Material Editor panel, you can remove a physical or thermal asset from a material in a project. You cannot remove an appearance asset.
It is important to understand that material assets in a project are handled differently than assets in a library. An asset in a project is deleted (or removed) if it is no longer associated with a material in that project. However, an asset in a library remains in existence even if it is not associated with a material. The system is unaware of any association between assets and materials. Library assets should be managed carefully, both to eliminate unnecessary assets, and to avoid deleting assets in active use.
The selected asset is removed from the material and the asset tab is removed from the Material Editor panel of the Material Browser dialog.