Any big tech company with large peak periods disagrees with you. It's absolutely worth freezing non-critical changes.

Urgent business change needs to go through? Sure, be prepared to defend to a vp/exec why it needs to go in now.

Urgent security fix? Yep same vp will approve it.

It's a no-brainer to stop your typical changes which aren't needed for a couple of weeks. By the way, it doesn't mean your whole pipeline needs to stop. You can still have stuff ready to go to prod or pre prod after the freeze