No , it is not possible to remove carrier name from the iPhone anymore. But still you can edit the carrier name follow the steps below for that:

1. First make sure your iOS version is above 10 and below iOS 16.2.
2. Visit GitHub and download the Cowabunga app.
3. Install the application and open it.
4. Navigate to the ‘tool’ in the bottom right corner and click on edit carrier name.
5. Enter the name of your choice, and you are done.

For more info: https://gadgetbyte.net/what-does-tfw-mean-on-iphone/