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Is the test necessary? For example, is it a cypress test that makes more sense in a lower part of the pyramid (e.g. python or javascript unit tests)?
Is the test covering a longer flow where only one part is flaky? Maybe you can reduce the amount of the test that needs to be deleted.
Is it only the test that is flaky, or is the code under test itself non-deterministic?
If the test is of debatable usefulness, consider time-boxing the effort to fix and closing the ticket if it takes too long.