Configure Channel Strip Components…    ⌥X

Change the available components on a channel strip. You can reduce clutter, or add things that make working with the mixer easier. You can store a configuration as ‘user defaults’ and apply those settings when desired.

Work with channel strip settings in Logic Pro — Apple Support

You can remotely switch between channel strip settings by sending MIDI program change messages. This allows you to select your favorite sounds by pushing a button on your MIDI keyboard. To use this feature, you need to save a channel strip setting as a performance.