There is a requirement where I have to show Editable grid in a read only mode and I can edit by keeping icon when selected. But Is it possible to filter one of the dropdown field to filter it out. in editable grid.
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I'm not really clear what you're asking here. Generally it's recommended against "live" filtering of the rows shown on an editable grid - you might be able to accomplish it, but the downstream effects quickly become tricky: for instance, what happens to unsaved data in rows that get filtered out if the filter values are changed during editing? And all sorts of futher complications like that.
That's why, where filtering (and paging/sorting/etc too) are strongly needed, I always recommend the approach of showing the original data in a read-only (paging) grid with a row-selection style control to start editing a row, and forcing the user to finish (or cancel) their edits to that particular row prior to doing anything more (including selection of other rows, changing of filter values, etc).
For your case you say you want to "filter one of the dropdown field" to "filter it out". Can you specify exactly what you're talking about, what you want the user experience to be, etc?