Absolutely. While some people, pedestrians and drivers, can act stupidly at times it’s not an excuse for putting lives at risk. And yes perhaps on a quiet street the sound may be louder than desired, on the bright side the neighbours should be thankful they and their kids are safer because of it.I would not modify the sound. If you were to injure or kill a pedestrian and the sound was found to be modified you could be sued or possibly have charges brought against you.
Tampering with a mandated security system in a vehicle is a recipe for some serious pain and suffering for drivers, pedestrians and cyclists.
If you can’t live with the pedestrian warning sound buy another vehicle.