Sounds like a maintenance nightmare, so please consider other solutions, such as those suggested in the comments, such as the login file or settings.
If you want to make a separate exe, you can use the compiler and based on the definition in / exclude parts of the code:
Add a new configuration:

Add a definition to the configuration: 
Use the definition in your code:
{$IFNDEF ADVANCED} // Remove Event Handler Button1.OnClick := nil; // Hide Button Button1.Visible := False; {$ENDIF}
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