apple should have an anti-theft mode. Where you can't track it, but they can give access to local law enforcement to track it, and therefore wont go into stalker mode / alerting people about it.
If one is in close proximity to the device (say bluetooth), one can take it out of this mode and return it to normal usage.
I don’t know where you live, but where I live, I think we have a very good police force. But I would have absolutely no expectation of them getting actively involved in the tracker sleuthing of petty theft.