This seems to notify you of nearby tags but does not disable them in some way.
I'm not sure how they would even do that in the first place, since the AirTag doesn't track anything.
But, AirTags use a proper speaker rather than a piezo one - so it is possible to remove the permanent magnet and make them silent. (See YouTube for details)
If you were worried about a high value item (eg a motorcycle) you could hide two - a sacrificial regular one, and a better hidden silenced tag that should remain undetected for at least a few days.