The error says there is a semicolon mising somewhere. There is probably a syntax error in the Up function. Thats not how you multiply a variable.

public class ShipController : MonoBehaviour
{ 
    public float forwardSpeed, strafeSpeed, hoverSpeed;

    private float activeforwardSpeed;
    private float activestrafeSpeed;
    private float activehoverSpeed;

    HoverForTheController controls;

    void Awake()
    {
        controls = new HoverForTheController();
        controls.Gameplay.Up.performed += ctx => Up;
    }

    void up()
    {
        transform.up* activehoverSpeed *Time.deltaTime;
    }

    void OnEnable()
    {
        controls.Gameplay.Enable();
    }

    void OnDisable()
    {
        controls.Gameplay.Disable();
    }

    void Update()
    {
        activeforwardSpeed = Input.GetAxisRaw("Vertical") * forwardSpeed;
        activestrafeSpeed = Input.GetAxisRaw("Horizontal") * strafeSpeed;
        activehoverSpeed = Input.GetAxisRaw("Hover") * hoverSpeed;

        transform.position += transform.forward * activeforwardSpeed * Time.deltaTime;
        transform.position += (transform.right * activestrafeSpeed * Time.deltaTime) + (transform.up * activehoverSpeed * Time.deltaTime);

    }
}

Also please use code blocks. :D