Depends on who organizes it, how, and a little bit on why. A pre-planned event would likely have organizers who would apply with the municipal authorities for a permit. They would look at issues like road closures, temporary traffic signs, insurance, etc.
Part of the permit process would be a request for exceptions from noise protection ordinances. If the municipality agrees, the noise is permitted within the scope spelled out by the permit. If not, the would-be noisemaker can try to sue to have a court override the administration.