Action to toggle bypass of first item FX

First of all, super shoutout to Planetnine for helping me an extremely custom action/action marker that I'm sure is useful only to me.

What a great user forum REAPER has compared to some other big DAWs.

Anyway, that post has gotten way off topic so now I'm on to my final custom action for my longterm REAPER workflow now that I've replaced Pro Tools with REAPER for certain tasks.

This one should be simple. I would like to select an item, and then toggle the bypass state of the first inserted item FX of that item using a shortcut/key command.

Is this already possible or does it require a custom script? I know the API has some limitations of item FX vs. track FX.

Thanks for your time.
Justin

Action to toggle bypass of first item FX