You're right that it's not fan noise — Snapdragon X devices are fanless, so anything audible is either coil whine or, less commonly, a relay/solenoid click from a power circuit. A soft hiss for a couple of seconds fits the capacitor-discharge/monitoring-circuit explanation well.
The coil whine varies unit to unit even within the same model due to normal manufacturing tolerances in the inductors/capacitors.
Don't send it in. It's almost certainly benign coil whine from the power circuitry —not a sign of failure. It's annoying, not dangerous.
Otherwise, sending it in just risks trading your 6-month-old unit for a refurbished one, with nothing actually fixed in return.