No, VS Code does not provide a generic solution to disable extensions within specific paths, but extensions can certainly offer this functionality on their own. Please report the performance issues to the offending extensions and consider filing a feature request to enable/disable the extension for a specific path.
You can also disable extensions within individual workspaces. Just open the extension’s page, click the disable button, and select workspace
This will disable the extension within the current workspace only.
Here’s more info on managing extensions: https://code.visualstudio.com/docs/editor/extension-gallery#_manage-extensions