Maybe I'm misunderstanding - I mean, you have it, right? When you don't engage loop mode it's inactive anyway. Are you asking for the PT HD option, recordings and the DAW stopping at a certain point instead of your having to press stop?
I use the same loop shortcut as in PT, numpad 4. And another for Loop follows selection. I think Deactivating - but not losing - a marked loop area is an improvement over PT. You can check something, then go back to the marked loop to further record or listen. No more need for "restore last selection" - that lost it immediately after you marked something else anyway.