Yup, you could use some alligator or micro hook leads and just temporarily connect them to the lugs of the depth pot. Hook the other side to toggle. You could just use an SPDT if all you want to do is defeat the depth knob. Does your client want the ability to dynamically switch off and on the modulation on the fly while playing? Or just use the pedal in 2 different modes? If the former then I like
@szukalski's idea of a reverse momentary to bring in the modulation. Or even better yet, be able to control with an expression pedal