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No and, in fact, getting an email when your account gets logged in is one of the prime reasons to have this feature in the first place.

Picture this. You are away from your computer, eating lunch, mowing the lawn or something like that. You get an email on your phone that you logged into your site. That's the point where you need to log into your site on the double and turn on the Emergency Off-Line Mode in Admin Tools because you were just told someone has compromised your account.

Physical access to your machine is not a requirement for your account being compromised, in fact physical access to your machine does not even guarantee that your account will be compromised. The most likely scenarios involve phishing, account stuffing, brute forcing, email compromise, cross site scripting, browser vulnerabilities or the attacker exploiting a remote code execution or SQL injection flaw in a component of your site.

If you are the sole super user of your sites and you do not care about any of these attacks you can of course disable this feature in Admin Tools.

In any other circumstance it doesn't make any sense to give you a feature which notifies you on successful super user logins... but which does not, in fact, notify you on successful super user logins. That's the definition of utterly useless.