If you're tagged in a conversation you don't want to take part in, you can mute the conversation's notifications:
1. Go to one of your posts in the thread you want to mute
2. Click ⋯ and select Mute conversation
3. If you haven’t posted in the thread, go to a post in the thread where you were tagged, then select ⋯ and Mute conversation
4. If you still can’t find this option, go to your Notifications section, then click ⋯ and Mute conversation on one of the conversation’s posts there
@feditips
This can have the side effect of muting all replies to that "root" post. I wish we could mute off-branches of conversations stemming from ours.
For example, the other day I made a post / reply, and two people started having a debate, tagging me but not really talking to me.
Muting my post silenced people who were trying to engage with me.