Can you dispel the Slow effect of a Stone Golem?

Question

A Stone Golem has the ability to create a slow effect on nearby creatures:

Slow (Recharge 5-6). The golem targets one or more creatures it can see within 10 feet of it. Each target must make a DC 17 Wisdom saving throw against this magic. On a failed save, a target can't use reactions, its speed is halved, and it can't make more than one attack on its turn. In addition, the target can take either an action or a bonus action on its turn, not both. These effects last for 1 minute. A target can repeat the saving throw at the end of each of its turns, ending the effect on itself on a success.

This is similar to, but not the same as the results of the slow spell.

Can you use dispel magic to remove this effect? It isn't technically a spell, even though it is magical.

Answer 1

No, this doesn't work.

Dispel Magic specifically states:

Any spell of 3rd level or lower on the target ends.

The Stone Golem's Slow ability is not a spell.

For further evidence, we can look at the Sage Advice Compendium:

Can you use dispel magic to dispel a magical effect like a vampire’s Charm ability or a druid’s Wild Shape? Dispel magic has a particular purpose: to break other spells. It has no effect on a vampire’s Charm ability or any other magical effect that isn’t a spell.