It only seems to require Find My enabled when enabling Stolen Device Protection. Apple does also say that it requires Significant Locations enabled in Location Services but I have that disabled and Location Services disabled as a whole when enabling Stolen Device Protection. It did prompt me to enable Find My before I was able to enable it, but I was able to disable Find My again after the security delay.
Steps:
- Enable Find My
- Enable Stolen Device Protection
- Disable Find My after the 1-hour security delay
Stolen Device Protection works as normal. However, you will always have those restrictions even when at home or work as your iPhone won’t know it is in a safe place (though I’d argue work isn’t a safe place).