Hey there. (ex) Truck driver here.
It's loud but not too loud.. 90dB or so, I'd say, at its peak. Just a guess though, never measured it.
The brakes aren't releasing, quite the opposite actually. Brake pods have very strong springs inside of them that keep the brakes on/locked. When air pressure is introduced, it forces the spring to compress and release the brakes. When the parking brake is pulled, it purges the air to atmosphere, and the springs force the brake shoes onto the drums. This is a safety feature; should the tractor lose all air in an air leak, perhaps, then the brakes automatically apply.