Noise cancellation headphones that will block out loud things or ambulances approaching you, sitting exposed on a motor strapped to two wheels at a high speed? Yes. That is different from driving in a Lexus.
All the assertions I'm seeing in this thread are bizarre to me. One can easily hear a siren over noise cancellation and over wind noise, and it's even easier to hear if you have noise cancellation for that wind noise.
As a related example, when I'm on an airplane and I have noise-cancelling headphones on, the pilot announcements are easier to hear than without them.
As I mentioned in another comment, on an airplane, my airpods in ANC mode make it easier for me to hear announcements.