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hou.node('/obj/myNode').setGenericFlag(hou.nodeFlag.Display, False)

# Flag Types
"""
Flag Types:
Audio
Bypass
ColorDefault
Compress
Current
Debug
Display
DisplayComment
DisplayDescriptiveName
Export
Expose
Footprint
Highlight
InOutDetailLow
InOutDetailMedium
InOutDetailHigh
Material
Lock
SoftLock
Origin
Pick
Render
Selectable
Template
Unload
Visible
XRay
"""