I strongly disagree.
In a conferencing app, for example, "mute" could mean switch audio off, or just the mic, or both.
And consider that a word, even "mute", might not have an equivalent in every languages.
words take up precious real estate and makes the UI look congested/cluttered and is exactly the opposite of the desired clean look. if things are more ambiguous, it is just something for the user to come to terms with. --Jony Ive in some unwritten extract of thoughts
Long ago, Apple's HI group had a saying: "a word is worth a thousand pictures".