It is necessary to understand what an arming plug is and what that switch does. They are NOT interchangeable. While the arming plug disconnects the battery from the system and works like a switch to prevent the unwanted running of the motor, the slide switch works as an on-off switch for powering the timer only. An ESC with the slide switch in the OFF position is still powered, still able to run the motor normally, and is often used in the OFF position, for example, in twins or counter props. Therefore, it cannot be used as a switch for the motor itself and does not connect power to the motor. Its function is to supply power to the timer and thus execute the timer program from start to end.
Contrary to this, the arming plug is NOT meant for stopping the motor run. A rotating motor acts as a generator, making electricity as a voltage source with an internal resistance of a few milliohms, which is capable of burning what is in its way. NEVER (unless there is an urgent need to stop it due to safety reasons) disconnect the battery connector or arming plug during motor operation, as it can damage your ESC. Use the slide switch instead. It will disconnect power to the timer, and the ESC will stop running correctly after a few seconds.