This is incorrect.

I had someone stop sharing their location with me and several other people just recently and none of us got a notification. In fact a couple people were surprised and didn’t know until we started mentioning it.

I just now tested it with my wife. There was no notification or info that I stopped sharing my location. All it had was my name and “Can see your location.” When I started sharing my location again she got a notification that I was sharing my location.