Is there any way not to process the key getting pressed? Something to completely ignore that key ?

If you are using the native SDK (as it seems reading your previous post) this can easily accomplished by filtering the calls from the IRenderer KeyDown and KeyUp.

In Unity, there is an option in the component to ignore all keyboard input. In case you want to ignore a single key you would have to edit the code of the .cs manually.

Does this solve your problem? Could you describe a little bit more your scenario?