@SirishaJ3161 I believe only the queued items that are 'Broken' can be re-queued or removed from the Admin Studio. As advised by @MarcLasserre_GCS in his response above.
For items that are in 'Ready to process' there isn't a straight forward way to remove them from the Admin Studio (at least not that I am aware of). But there are other ways that can help you achieve it. You can read about it in below post.