The Adam bias correction can be interpreted as a modification to the learning rate, see also this paper where an alternative is proposed and discussed:
The originally stated goal of the bias-correction factor was at least partially to reduce the initial learning rate in early steps, before the moving averages had been well initialized (Kingma and Ba, 2017; Mann, 2019).
This thread is relevant for your question. Feel free to take a look: Why not always use Adam optimizer - #4 by Christian_Simonis
Best
Christian