Clean up and Hide is only an option when you right click a product that was added in CA CSM with the Update Complete Product List task.
Products that were manually added will only give you the Delete Product, Delete Release or Delete Gen level depending on whether you right click on the product, release or gen level.
1. Right click on the product name and choose Delete product.
2. Run the Update Complete Product list Task.
3. Right click on the product release and choose Update Product Release.
4. When the Update Product Release Task completes, click Refresh on the page and now when you right click the product release you will see the option to Clean Up and Hide.