I am looking for out-of-the-box ways to control the Find My app on my children's iPads; whether that's external apps or otherwise. Apple support has not been helpful, and the only "mechanism" is to restrict the app to 1 minute per day.
As a parent, I need to see my kid's devices and locations. The issue here is that the kids will have access to mark parental devices as lost or play sounds. I see this as a security issue and sadly, yet another limitation of iOS with the all-or-nothing approach.
In the meantime, please submit feedback to Apple if you are also facing this issue.