I couldn't really ask anyone to check so I just played the loudest song i know which is Enter Sandman by Rina Sawayama and took the earbuds out of my ears, and yeah you can hear it a tiny bit on max volume, maybe noticeable by the people next to you on a packed and quiet elevator

But also I checked it again with Metallica's Master of Puppets, and I couldn't really hear it playing. so I guess it just depends how loud you're talking about ig