I'm inclined to agree with the HB/Low idea. Reason being that I've never turned my DF off, when fishing for Crappie or Bass, and caught fish right under or close to the boat in <5ft of water. I won't go so far as to "say" that the fish cannot hear/feel the "ping noise" ... but, it certainly don't seem to bother them, at times. If it did/does bother them, and they quit biting or move off ... how would you know ?? The only way I can see testing this out, would be to NOT use the DF until you were into a school of fish ... THEN turn it on & see if it affects the bite. There's still some wiggle room for doubt, even then, but it would put you on notice that it MIGHT turn them off.
I also think that fish get used to certain noises, like outboard motors/people walking on docks & marinas/etc ... and, like I've said before --- if they're already spooky (from the prevailing conditions) then it's highly likely that any added commotion isn't going to help ... but, if they're not in a spooky mood, a little extra commotion doesn't usually amount to much of a negative factor. There's been too many times I've seen a bunch of people, on a pontoon, drive it right into a stand of trees, big motor running ... tie off & start a "firedrill" aboard it, clanging & banging stuff while getting rigged/baited up, then drop/cast large bobber/minnow rigs all around the place ... and still actually catch some fish
... cp