I tend to disagree. At least the answer is not as clear cut and the European court of Justice has ruled that IP addresses might be considered personal data (https://cms.law/en/bgr/publication/does-the-ip-address-represent-personal-data).
Now what you do with that information is another question and I think one could argue that the IP address and geographical region might help moderators to judge if a message comes from a bot account, but I don’t find the OP’s request to hide IPs from moderators and only show them to admins unreasonable.