Now you KNOW you're in delete mode:

• The cursor (or beam, in VR) goes RED.
  
• Use the left mouse button, or right trigger to delete the highlighted item
  
• Theres text above the item bar to help you get out of delete mode
  
• Selecting an item from the items bar will also get out of delete mode (so you don't HAVE to push ESC/B)
  
• For VR: the reticle changes from the round ball (with yellow stick) to just a flat, larger, red ... spot.
  

Also, if you hide the items bar entirely, all reticles/pointers/rays are hidden. I call this "exploration mode". Gets rid of all UI so you can enjoy the view!

Happy exploring!