This idiom is another way of saying that you want to postpone something. As you can see from our video, most of our examples are in a professional setting as this informal phrase has become something of a buzzword in business where complications or time constraints often mean that things need to be moved or delayed. You can use this expression in a social context, but usually it's in conversations about professional issues.
Instead of saying 'park it for now,' you can also say 'park it for a while,' or until a particular time or date. In this video, you might have heard the expression 'give me some breathing (space/room).' You can click on this expression to learn more about it.
Phrases with a similar meaning include 'stick a pin in it,' 'hold off,' and 'put it on the back burner.'