When I drive in NYC and have the Waze app active, whether or not I am using it for navigation, it will announce Red Light cameras automatically. The speed cameras (which it refers to as "speed traps") are announced when I am approaching them - about 1/5 mile before - and I am going over the posted speed limit. In the Voice and Sounds setting of the App itself I have Sounds set to Alerts Only. And under the Waze Settings/Map Display, there are the various settings for what you want displayed under "Reports". There is also a place in the Waze App - when it is open on the CarPlay screen - to set what type of notifications you want announced.
Unfortunately, when I leave the city (or get on the highway) I don't want any notifications from Waze - especially when using Apple or Google Maps - and there is no easy way to actually turn off the app itself.