How to disable Launchpad CMD+L shortcut

I have tried changing the keyboard shortcut in System Preferences > Keyboard > Shortcuts > Launchpad & Dock. However, whether I uncheck the option or change the keyboard shortcut, CMD+L still opens the Launchpad. The combination I change it to also works (if checked so that it is enabled). However, that pesky CMD+L is permanently enabled.

This is problematic because every web browser I have used adopts CMD+L to jump to the URL field, and the Preview application uses CMD+L to rotate photos to the left. I use both of these a lot and, as far as I know, options to customize shortcuts in those applications are limited if not unavailable. So it is annoying to have lost the ability to regain control over CMD+L from the system by de-assigning it to Launchpad.

My system:

Model: MacBookPro18,2 (2021 16-inch)

Processor: Apple M1 Max

System version: macOS Monterey 12.5.1 (21G83)

Kernel version: Darwin 21.6.0

Is there a way to fix this?

Thanks