You will need to disable virtual terminal switching in your X11 configuration and then you can try rebinding the key to something else using the "Keyboard Shortcuts" from the settings menu.
I have an application that binds CTRL+ALT+F7, but my linux machine seems to catch the keystroke. Is there a way to rebind/disable this key? A recompile of the kernel is an acceptable answer. The
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If you are using Wayland on Ubuntu 20.04 you will have to do something similar, is there a reason you want to rebind the special keybind for switching virtual terminals?