I installed some Avid software and this menu item appeared. Most of these drop-down menu items have a preferences option where you can turn them off, but not so with Avid. There is no option to turn it off. I went into system preferences/users/login items which is normally where you turn something off and it wasn’t there either. The answer was to go to a file Library/LaunchAgents/com.avid.ApplicationManager.plist file and edit the line that says RunAtLoad key to false. Complicated!
Here’s the menu that I could not delete:
He is a good website that describes how to do this.