The OP asks an interesting question. Electronic switching is far faster and more reliable than mechanical switching and is also silent. Switching a sensor off and on seems like a great idea. Sounds like a billion dollar patent to me. I haven't had a quiet camera since my old Leicas, which I wish I still had.
As has already been stated, current technology does not allow electronic switching to occur with the speed and precision necessary.
Or perhaps it the old "I've never heard of it so I'll just assume that nobody else has ever thought of this before" thing. You can be sure that Canon, Sony and all the other companies that develop image sensors have been working on this for some time. In fact, they probably already have it working but are still trying to figure out how to make them cheap enough to manufacture.
When they do get this working though it will be great. Not only will it be more quiet but it will allow the shutter speed to be varied over different areas of the sensor. The would be like having a built in graduated neutral density filter, darkening the bright sky and allowing a longer exposure on the darker ground areas.

