Is it possible to turn off / disable the automatic creation of Foreign Keys when defining a relationship between tables?
It's not possible to turn this function off, as it's part of the main functionality.
TDM offers also other functions - the possibility to rename foreign keys or to map foreign keys. The help manual has some explanations and examples with screenshots.
There are further details at: Help menu | Manual | Physical Data Model | Creating ERD | Understanding of Foreign Keys and e.g. Parent Attributes.