Hello, gidge89.
Thank you for reaching out to the Community. In QuickBooks, disconnecting doesn't delete accounts or downloaded transactions. It just stops QuickBooks from downloading new transactions. Though, when you disconnect, QuickBooks deletes transactions that still need to be categorized in the For review tab. If the transactions are older than 90 days, you won't be able to download them into QuickBooks again.
To learn more about disconnecting or deleting account, please check out this article: Disconnect or delete accounts connected to online banking.
Alternatively, If you wish to connect your PayPal after disconnecting it, you can use other options on how to connect your PayPal to QuickBooks. For more information, you can check out this article: Differences between Connect to PayPal app, Sync with PayPal app, and PayPal Bank Feeds.
Please let me know how else I can help you with QuickBooks and PayPal connections. I'm always here to help. Have a good one!
