Okay, I built a View like yours using MC25.0.115. Now I can see what you mean. I can right-click on a Search List item > Pane > Edit and that will open a dialogue that allows me to edit or remove Search List items. See the first and second attached images.
I don't have MC26 installed on the PC I am using, so can't check the functionality in there.
Have you tried just using the "Customise View" functionality, selecting the Search List item, clicking the Edit button, selecting the "TC Compilations" item, and then clicking the Remove button? That should do the same thing, as it takes you to the same dialogue box as the right-click > Pane > Edit functionality that works in MC25.0.115.
I will have to check MC26 functionality later, unless someone else checks first and confirms the issue. But at least you should be able to fix the issue using the Customise View functionality.