If your extension already has access to all sites then there should be no additional warning e.g. if you transform "permissions": ["<all_urls>", "webRequest", "webRequestBlocking"] to "permissions": ["declarativeNetRequest"], "host_permissions": ["<all_urls>"]
The same goes for "*://*/*" (or "http://*/*" + "https://*/*") instead of "<all_urls>".
Otherwise, declarativeNetRequest permission has its own warning, which is "Block content on any page you visit", because this is what you can do with this permission alone without any host permissions.
In the future (probably since Chrome 96) we will be able to use declarativeNetRequestWithHostAccess permission that doesn't have any warning of its own. It just grants access to chrome.declarativeNetRequest API. You still need host_permissions or activeTab permission to perform any meaningful action to a URL.