You could patch the command like this:
\documentclass{article}\usepackage{fontawesome5}\AddToHook{cmd/faIcon/before}{\begingroup\small}\AddToHook{cmd/faIcon/after}{\endgroup}\begin{document}some text before \faIcon{youtube} some text after...some text before \small\faIcon{youtube}\normalsize\ some text after...\end{document}
If you don't want a small icon, but just a smaller icon, you could use the relsize
package:
\documentclass{article}\usepackage{fontawesome5}\usepackage{relsize}\AddToHook{cmd/faIcon/before}{\begingroup\smaller}\AddToHook{cmd/faIcon/after}{\endgroup}\begin{document}some text before \faIcon{youtube} some text after...some text before \small\faIcon{youtube}\normalsize\ some text after...{\Huge\faIcon{youtube}test}\end{document}