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The term that best describes the action of temporarily setting something aside is "suspend." In various contexts, such as legal or regulatory frameworks, to suspend means to pause or temporarily stop an activity or process without permanently terminating it. This could apply to licenses, privileges, or other statuses, where a party may be allowed to resume once certain conditions are met or once a specified period has elapsed.

In contrast, the other terms have different meanings: revoking typically refers to the permanent cancellation of an authority or right; fraud involves deceitful practices intended for personal gain; and conviction refers to a formal declaration of guilt in a criminal case. Each of these terms does not encapsulate the idea of a temporary cessation of action as effectively as "suspend" does.