Hello again,
In this tutorial I will guide you to remove or edit the orderby dropdown for products, so if you have any such requirement follow the below code.

If you want completely remove the drop down and ordering options, add below single line code to your functions.php file:

remove_action( 'woocommerce_before_shop_loop', 'woocommerce_catalog_ordering', 10 );

Here in above code, 10 is priority of the function, which is default priority, you can change it according to you.

Else if you want to edit or change it to some other thing first find the file at the following location-

/wp-content/plugins/woocommerce/template/loops/ordering.php

After this copy the file you searched for and paste it to your theme folder

/wp-content/themes/yourtheme/woocommerce/loops/ordering.php

then edit it, and override the default drop down.