I don't expect you will find a complete solution (only password info will be masked as can be expected), so as an alternative, consider using OPTIONS command NONOTES / NOTES to turn off / on SAS code/notes logging, and for effect, follow the "conection command / code" with a simple DATA step and a PUT / PUTLOG statement echoing to the SAS log that some code has been suppressed.
Scott Barry
SBBWorks, Inc.