If the question is, for any particular link, how do I “cancel” that general show rule? It’s not always so easy, but for this underline rule it should be fine. Like this:
#show link: underline
Link target<K-1>
#link(<K-1>)[1]
#let nounderline(body) = {
show underline: it => it.body
body
}
#nounderline(link(<K-1>)[1])
So you can wrap anywhere you want to disable underline in your nounderline function.