Are you able to telework, either part time or full time? It's quite interesting that some thought it's appropriate to go to the bathroom while on video/voice conferences. 
I'm retired, so not working anywhere on-site or remotely, but there sure have been lots of stories about people's learning curves as we all adapt to Zooming and FaceTiming.
This parody on SNL was my favorite so far (pity the poor receptionists!):
So how do you put a smart phone or video conference from your computer on hold?
That's heat insulation, not sure if it's totally effective for sound. I guess it depends what kind of sound you're trying to block.
Not exactly sure what you're asking, but if you are a participant, there would be no way to put a live conference on hold other than to excuse yourself temporarily or ask the other participants to hold off or pause until you are ready to resume just as you would on a phone call.
Another way is to upgrade your toilet to zero noise flush or maybe just don't flush until after the meeting. haha
My work life has largely been unaffected. I've been exclusively WFH since May of 2017. The only difference is there are WAY more video calls now.