Delete Master Clip Effects
When a Master Clip Effect is on a clip, you can see it in the Effect Controls pane and you can highlight the effect, but hitting delete doesn't do anything. You can right click on it to get a contextual menu, but selecting Cut or Clear won't remove it.
I have a project where someone was toying with applying a LUT and ended up adding 4 Lumetri Master Effects filters to every single clip in a feature. The only way I can see to remove all of the filters is to click on every clip and, ONE AT A TIME, click on the pulldown at the top of Lumetri, select "Lumetri Color" and then hit the pulldown again and select Clear.
I know I can use Disable MasterClip Effects in the project pane, but that doesn't remove the filters. With about 100 scenes x 3 angles per scene x 4 takes per shot, I'm looking at about 1200 clips with 4 filters per clip, that's almost 5000 filters bloating up the file saves. This is just getting ridiculous. I should be able to do a "Remove Attributes" to everything and end up with clean footage void of any filters. Just add "Master Clip Filters" to the existing dialog box and then we can pick if we want to remove/paste to the Master Clip side or the regular side.

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Thomas Park commented
This is the dumbest **** I've had to deal with. It's 2021 and we still don't have a fix...
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Andy Adkins commented
This is actually what (imho) we need, so I'd encourage you to comment and upvote this one:
https://adobe-video.uservoice.com/forums/911233-premiere-pro/suggestions/34408372-paste-remove-attributes-in-master-clips -
Andy Adkins commented
This is so so so so dumb.
Try it, Adobe, please: Paste an effect onto 12,000 master clips.
Now the only way to remove those effects is, yes, one by friggin one. Are you kidding?
Applying lumetri/luts etc to masterclips can be really useful, but I feel like I'm playing Russian Roulette whenever I do it. To the point where, as Aaron commented, it's effectively useless (in how hazardous it is) for all but the simplest workflows and/or tiny projects.
And disabling is not the same as removing. What we need is a "remove attributes" dialog for master clips.
This has been known for FOUR YEARS. This doesn't embarrass you at all?
https://community.adobe.com/t5/premiere-pro/how-to-remove-master-clip-effects-on-hundreds-of-clips/m-p/11580391?page=1#M309399 -
Aaron Lewis commented
Same problem - we would love to use master clip lumetri in our workflow, but this one missing function/feature makes it almost useless for us. I hope this is added ASAP... we need the same 'cut/copy/paste' functionality that you use for lumetri on clips to make use of master clip grading.
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Takuma Miyamoto commented
Same problem here.
Just replacing color correction (lumetri color) for multiple clips costs so much amount of time.
(not by disabling and adding new effect)