The president is chosen by the Electoral College, whose members are chosen by 50 State Legislatures under rules they have exclusive authority over (Congress gave itself 3 electoral votes in 1960).
There is no “presidential election” to cancel, not in the sense you mean it.
He doesn’t need to ‘cancel’ the election. He just needs to find a way to “extend” his term. Just a “temporary measure” of course, and all in name of “maintaining national stability in this time of unprecedented crisis”.
Remember, this is the same man who wants to give the UN power to terminate our nuclear testing.
u r much more patient man than I am