It is really desirable to be able to control local light rendering (whether they are editable of not) - for both performance and during photography. One can imagine a sophisticated (and complex) set of controls over local lights, but a simple first step is near.
The RenderLocalLightCount setting currently provides a means of control at the viewer.
Please expose RenderLocalLightCount on Advanced Graphics Settings.
Several criteria immediately present for the selection of local lights to be rendered when RenderLocalLightCount is set less than the number of placed local lights. Lights that are too far to illuminate any object at the camera focus are natural to cull; lights that are brightest at the camera focus are natural to render. The list should include any worn local lights.
The selection of lights to be rendered was recently changed. It seemed that lights closest to the camera were rendered first. While not ideal, this was far superior to the way it is now, where lights are rendered in an order seemingly unrelated to the position of the camera or its focus. I consider this last a bug, but I think exposing this control will be a super feature.