Removing this condition too early is the most common way a buyer gets hurt. A pre-approval is not a guarantee, since a lender still confirms the property, your final numbers and CMHC lending guidelines, including a minimum credit score of 600, before releasing funds at possession.
A seller in a competitive situation may push for a shorter condition period or none at all, and that is a real negotiation, not a formality; your lawyer and mortgage broker should both weigh in before you agree to waive it, since removing it early shifts real risk onto you.
Whether to shorten or waive this condition is a decision worth making with real advice, not alone. Get your hand-reviewed valuation from Joel Dyck.