Yes, each flow has an on/off switch that enables you to stop the flow from processing requests.
See the following table to understand how your flow responds when it's turned back on.
Trigger typeDescription Polling, such as the Recurrence triggerWhen the flow is turned on again, all unprocessed/pending events are processed. Delete your flow if you don't want to process pending items. WebhookWhen the flow is turned on again, it only processes new events that are generated after the flow is turned on.