You’ have to hide it by modifying the store-settings.php template or by using a filter to hide the field.
This filter would hide the field- but it still leaves the title and instructions…
If you modify the template, you can comment it out.. but make sure that a Store name has been chosen, as it is a required field so it will cause issues if a store name is not chosen.
<!-- Store Name --> <?php // WCVendors_Pro_Store_Form::store_name( $store_name ); ?>
To modify templates, see here: