The pause is on new entries
The MT5 news filter stops the bot from opening a fresh trade inside the window you keep around the release. It is not a promise that an older position becomes risk-free. If that position is the daily loss problem, Equity Guard is the tool that can close it.
You still see the calendar on the $0 plan, next to the dashboard. The bot that obeys the pause is on Pro at $29.99 a month.
Prop firm news rules are separate
Some firms restrict the minutes around red-folder news on a funded account even when the evaluation allowed it. The filter is how you keep the bot inside a window you chose. The firm rule is still the firm rule.
Read the firm page in the rule library before you assume a news trade is allowed. Then connect MT5 and set the pause beside the bot.