CONFIG_PLL_BYPASS is not available for thedefaultarchitecture x86.
Result is shown for architecture blackfin

Bypass PLL

configname: CONFIG_PLL_BYPASS

Linux Kernel Configuration
└─>Blackfin Processor Options
└─>Board customizations
└─>Bypass PLL
In linux kernel since version 2.6.24 (release Date: 2008-01-24)