It depends on the country in terms of the film sales. The movie was still for sale overseas. We just know how strict the US was on it first. The USA was one of the few places they did not make money off of the film sales after the last theatrical release. to Disavow is not an appropriate word to use and neither is condemn. Disavow would be to no longer take responsibility or the support of something. Condemn would be not to accept anything related to it. It may seem semantic, but condemning is literally one of the strongest words in language to have the opposite of any support or allowance of it. The company is far from that.
As they readily took money from sales of other countries and cloned the attraction again in japan and were fine with selling merchandise with those characters, even to this day without a direct connection to the ride, it would be silly not to delusional not to deny that.
Again, they are selling the 70s artwork of Ber Bear on merch right now, so you can't say it is based on his existence in Splash Mountain. That is far from Disavow or condemnation. Balancing the optics, yes, but not condemnation.