In the Sounds tab you have the functionality to set a Minimum Quality of loot for Drops and Ambient: Common, Magic, Rare, Legendary, Unique.
May I suggest a new tier: Ancestral.
If you are trying to get to p300 a large portion of the game you won’t really care about regular legendarys, yet they constantly make sounds and put stars on your map.
With this new tier inconsequential drops are less intrusive and you could also take this opportunity to add an option to apply it to map icons.
Could even take it a step further and add more options Legendary|Ancestral|Unique|Mythic.