Without any changes yes the fans that come with it are pretty noisy. Usually people put it in a garage or in an encasing that reduces sound or change the fans for quieter ones.

For the rewards I imagine it’s dependant on which mining pool you choose. With Braiins, you get the rewards in your account when they mine a block. The reward is then confirmed after 100 blocks (so less than a day). You can withdraw to your cold storage as soon as the reward is confirmed, but there’s a fee if the amount is too low. Or you can set it up to auto withdraw at a certain threshold.