How to hide custom action for the users who have read only access to the records

Summary:

How to hide custom action for the users who have read only access to the records

Content (required):

Steps to re-produce the issue

1. Login to the Application as a Sales Admin

2. Navigator -> Opportunity -> Create opportunity with necessary fields

3. Save & Close, Logout the Application

4. Login to the Application as a Sales Rep/Person

5. Navigator -> Opportunity -> Open the opportunity which is created by admin (step 2)

6. Overview page is read-only, but able to view custom action

How to hide custom action for the users who have read only access to the records?

Is there any way to hide the custom action links based on access?