Well the cock ring is designed to keep a guy hard, not stop orgasms. You may mean the cock cage, which is for exactly that, and the equivalent for a woman is the chastity belt. Some women do love them but its more like bondage than a real chastity device, they are incredibly awkward and never work too well. So yes, as a kinky accessory, lots of fun. For preventing orgasms not much use.
Some do use numbing to prevent orgasm but I would worry about repeated use and of course it’s only very temporary