So the fan noise hasn't decreased at all. I was giving it some time to see if it would go away but no luck. I ran the fan test:
F12 at boot
Boot to Utility Partition
And here are the results:
It is definitely the CPU fan that makes the high-pitch whine. The whine ramps up when the CPU fan ramps up and ramps back down with it. The tests show "pass" but that only verifies the fan speed and has nothing to do with fan noise. I'll be contacting Dell to either send me a new fan or someone to swap it.