If you’re memorizing your password, don’t change it too often because it’ll just confuse you and encourage you to pick easy to remember passwords which are less secure. Change your password if you hear about a hack, or have reason to suspect your password got leaked. Otherwise there’s no need.
If you have a password manager though, go off. Change it as often as you’d like.
(Also 2FA, unique passwords per site, etc etc etc)
The alternative isn’t controlling how people use chatbots on their own machines. It’s limiting corporations from profiting off of chatbots that use another person’s likeness.
You don’t need to jump to assuming regulations would have to control what you do on your computer specifically.