Whether that's an acceptable risk is up to you. Having lived in central Texas, it's a region known for it's flash floods, and you should take the warnings seriously. If there's heavy rainfall - you should be asking where all that water will go.
In this case, I hope that Texas looks into upgrading their alerting system so that people get word in time to leave the area. The news was saying the weather center added additional staff for the storm (five meteorologists) but if their forecasts can't get to where they're needed, that's not good enough.
Since the July 4 flooding, I feel like the over correction of flood warnings via mobile phones is not a good thing. My phone has been going off with near daily flood warnings with 0% precipitation. I get how rain upstream can cause flooding where it’s not raining downstream, but it hasn’t even been raining upstream. I’m also well over 200 miles away from where the worst of the flooding happened. People that far away do not need these warnings. The notifications have listed counties not close, so it just comes across as “let’s do something just to say we did something”
Need ground alert sirens or something that would be taken seriously
This trained response to a siren/warning system is the reason they chose not to use the tsunami warning system in Hawaii during the fire. When that siren goes off, people seek higher ground which would have driven them to the fire.
We’ll see how long that record holds (I’ll take the under on 1000 years).