No, it wont actually iscolate the power supply to the card, but it will prevent it from running when you are playing games. If you wanted to you could disconnect the PCI-e cables and then take a look in your BIOS to see if you can diable the PCI-e slot the GPU is installed in, and that should stop the beeping that Mousemonkey mentioned. =)
But really the easiest way would be to remove the card entirely. It's not that difficult to remove a GPU.