as far as i know, there is no such parameter to handle a complete lock of an user account.
But you can use a special plugin, the connection-control plugins. These plugins will give you the ability to enable an increasing delay of server response to client connection when there are to many failed connection attemps.
If you want to build your own routine to lock an user account, perhaps the following post is interesting for you: https://stackoverflow.com/questions/40843411/mysql-5-7-lock-account-after-too-many-failed-attempts
Have you tried something like ALTER USER 'jeffrey'@'localhost' ACCOUNT LOCK; ?
BTW the way to unlock is ALTER USER 'jeffrey'@'localhost' ACCOUNT UNLOCK;
Thanks daniel for suggestion.