Since 1995, the first season after Senna's death at Imola driving a Williams FW16, the team had been displayed the Senna S logo on the nose of its car to honour the late Brazilian.
It continued that tradition last season, but when the Grove team revealed the striking blue livery of its new-for 2022 FW44 car, it appeared the Senna logo had finally been removed.
When asked about the decision, team boss Capito said the team wanted to "move on" and stop reminding its drivers of what happened at the 1994 San Marino Grand Prix, where Senna was killed.
Instead, Capito said that the team now owned by Dorilton Capital after it bought out the founding Williams family in 2020 will continue to honour Senna with a dedicated space in its museum.
"The decision was that we want to move on in the future," Capito said.
"We have a new era, we have a new car. And we refurbished also our museum, and where we have a special area to celebrate Ayrton.
"I think we had to look now in the future and not showing the drivers the 'S' all the time they get in the car and being reminded of what happened.
"Now it's time for the team to move on and be very honourable to Senna and having a very dedicated space in the museum and honour him there."
Capito added Senna's family hadn't been consulted about the decision, but said efforts to increase the team's work with the Senna foundation are under way.
"We didn't have a consultation with the family but we are working with the foundation and we will increase our effort with the foundation and work on how we can to support the Senna foundation more," he said.
"I think more people benefit from this. If we can help people, especially through the foundation, I think that's a very good programme. But it has to be still finally defined."
Formed in late 1994, the Ayrton Senna Institute is a Brazilian NGO, presided over by Ayrton's sister Viviane, which raises money to support young Brazilians with education and social programmes.
Williams stopped short of revealing it actual FW44 car during its online launch, instead opting to present its livery on a show car.
Drivers Alex Albon and Nicholas Latifi are conducting a shakedown of the actual 2022 challenger later on Tuesday afternoon at Silverstone.