How to decrease logging level reported in Console?

No, reducing verboseness of the macOS logs is not a standard option.

While there may be a Terminal command/flag or a mod GUI app that lets you change the error levels recorded, I'd advise against doing so because if and when you need support/help, the console logs will be one of the places a tech person would review, and if they're truncated then there's less clues for the person investigating an issue.

You can change the system-wide logging settings with log(1).

sudo log config --mode "level: error"

…should limit logging to error-level messages only.

I have not tested this, and I would advise against it. Rather use the log command in collaboration with the Console application to filter only the messages you want to see.