I have a 2023 so things may be different, but I am able to totally disable both the automatic braking and the flashing red lights warning. I do get a warning every time I start the car that the collision avoidance is disabled, but that's fine.
I am what some may refer to as an "aggressive" driver, but I prefer to call it "highly trained and hyper-aware" and so the warnings go off nearly every day for me. I really didn't mind the warnings on my former BMWs, as they only alerted in real situations, but the Caddy is way more conservative, even at the lowest setting, so off it goes.
For the typical texting-while-I-eat-my breakfast-and-occasionally-look-up driver, these warnings are great. For most of the rest of us, they are too intrusive.