Since this feature that you are referring to was just added in the last update (as can be seen here), I think the answer is yes 😉
I am trying to keep the app settings as simple as possible. Therefore I am currently not considering adding an option just to hide this. I already expected some kind of request for a setting like this since in my experience, this is a normal reaction when something in a program changes. I am sure once you are using the app for a while, it won't bother you so much any more. You can also change the grouping of the "work units" in the app settings to a different interval, so that it doesn't match the interval of your overtime tag. Then the overtime won't be shown
