I've run into this problem many times, it's nothing major, adjusting my view or reselecting with lasso instead of shift+clicking the individual point tends to fix it. But it's a little frustrating there's no solution and it keeps interrupting my workflow.
As shown in the image, when a vertex is selected the axis (for transforming) displays over it. The issue is that it sometimes is in the way of a vertex and prevents selecting the individual point with shift+click. Is there some way I can prevent this from happening? If I had any idea how to set it up so that holding shift would hide the axis I would give that a try, but I don't. Is there an alternative to context-toggle I could use so that it hides only when shift is pressed?
The duplicate and answers provided so far do not address what I'm looking for. Seeking to reduce clicks and annoyance, trying to avoid having to zoom in / manipulate view to get a better angle, the toggle would be annoying unless it was only invisible while shift is held.