Yes, you just need to change parameter 5, as described in the manual. If you're using Hubitat's built-in driver, they do not expose this as a preference. However, you could use the Basic Z-Wave Tool to do the same (parameter 5, size 1, value 40 or whatever percent works for you; 45 is the max per the document).
Alternatively, if you are using Inovelli's driver, then they have this as a preference in their driver ("minimum level," also labeled as number 5). Note that some features in this driver work differently than they do in Hubitat's driver, though unlike Hubitat's, it exposes pretty much every feature of the device (most notably, all 5 taps and not just the first two; some button event names are also different from Hubitat's driver, so take note of any apps that depend on these events if you have any such automations set up and you switch drivers).
The links above are for the Red Series, LZW31-SN. However, the LZW31 should have similar options.
