This article discusses the limitations and options for a trash feature in the Episerver Commerce platform.
The documentation clearly states this option is not available in eCommerce out of the box.
Deleting and restoring content
Episerver Commerce does not support trash management when deleting catalog entries.
So from a product perspective this would have to be a feature request. If you would like this feature added please go here.
From a custom solution perspective it may be possible to hook into catalog events. There is information on this in Catalog Events.
There are some samples online like this one below.
Hook into commerce catalog events