Not audible noise, but EMF radiation for sure. Another option is having wire mesh in the wall, turn the whole room into a Faraday cage. When I worked at a cannabis store our storage room had expanded metal in the walls, floor & ceiling. The second you stepped into the room all wifi and phone signals dropped off by a huge amount.
Discussion
This is a great idea for kids bedrooms
The EMF paint isn't any more toxic than regular paint AFAIK, you use the same precautions when applying it. It's a primer, so you would be putting further layers of regular paint on top of it. The only real difference is you will have a ground strip running behind the baseboard to ground the paint layer.
In a house this would definitely complicate any wifi setups. You would end up with shadows and dead spots in your coverage, requiring more AP to cover those areas. Might end up as a wash in the end for overall EMF exposure.