The block is not an entity so it does not have a context menu in the Explorer. However, it does have a context menu in the graphics area.
To access the block context menu, right-click on the block in the graphics area.
The Block menu contains the following:
Block — This is the name of the menu.
Block Editor — Select to display the Block Editor tab which enables you to edit the block interactively.
Settings — Select to display the Block dialog which enables to edit the block.
Undraw — Select to hide the block. To toggle the block display click View tab > Appearance panel > Block, or use the Ctrl+Alt+B hot key shortcut.
Opacity — Select a percentage to control the opacity of the block.