You will now have the option to delete your template when you hover over the name and click on the 3 dots menu. You can remove any unwanted templates that you no longer need using this option.
This delete would be a permanent delete and you won't be able to restore the template once deleted.
How to Delete Existing Templates
Step 1: Go to Menu > Templates
Step 2: Hover the name of the template you wish to delete and click the 3 dots.
Step 3: Click Delete.