@Casper Swanepoel Thanks for posting in our Q&A.
Currently, there is no method to disable the Locate device option. If you are interested in this feature, it is suggested to post in intune feedback portal. It is a place to collect customers' requirements and problems. Here is the link:
https://feedbackportal.microsoft.com/feedback/forum/ef1d6d38-fd1b-ec11-b6e7-0022481f8472
Thanks for your understanding.
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