Hi!
Is the location icon you're referring to the one in the taskbar (next to the internet and sound icons)? Or is it something more specific?
There is no native way to hide that icon. However, it only appears when an app is actively using your location. If you aren't aware of this happening, you can investigate.
Do you use any apps or websites that require location access? You can go to Windows Settings > Privacy & Security > Location > View apps accessing your location. You can disable the ones you don't need. One of the apps might be triggering the icon constantly—meaning it is using your location all the time.