You can modify the admin navigation using the $menu
global var. The following will accomplish what you’re after
add_action( 'admin_menu', 'my_plugin_edit_admin_menu');
function my_plugin_edit_admin_menu() {
global $menu, $submenu;
foreach ($menu as $menuKey => $menuItem)
if ($menuItem[0] == 'Products')
$menu[$menuKey][2] = 'https://google.com/'; // wtv link you want
// UPDATE:
// remove the sub menu as well (note the GLOBAL var define above)
$submenu['edit.php?post_type=product'] = '';
unset($submenu['edit.php?post_type=product']);
}