We can delete CloudWatch alarm rules follow these documents. https://docs.aws.amazon.com/AmazonCloudWatch/latest/monitoring/Edit-CloudWatch-Alarm.html
Basically, CloudWatch's Basic Monitoring Metrics (at 5-minute frequency) are available for free. However, as you mentioned, CloudWatch alarms are paid for and unnecessary rules should be removed.
You cannot really “cancel” the whole Cloudwatch product, but you can disable a number of features to reduce costs.
Below is a comprehensive guide where you can reduce costs by disabling features as detailed monitoring, Aksum’s and more: https://aws.amazon.com/premiumsupport/knowledge-center/cloudwatch-understand-and-reduce-charges/
Hope it helps and if does, I d appreciate if answer can be accepted so that community can benefit for clarity when searching for similar enquires, thanks ;)
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