I am not convinced that medical honours are not doing any good (except some additional research money that may be welcome). There is a current twitter thread about the British monarchy which explains reasons to decline honours
Jon Snow: renowned journalist turned down an OBE Because he believed working journalists should not take honours from those they report on he said “I tried to find out why I’d been given it and was unable to get a clear answer or, indeed, to find out who had proposed me.”
Francis Crick: The physicist who discovered DNA, was offered a CBE in 1963 but declined, one year after they were awarded the Nobel Prize in Medicine. He apparently believed the British monarchy to be “out of date”
L.S Lowry: He turned down knighthood and the offer of 5 British royal honours although he said it wasn’t for political reason he wanted his life to remain unchanged and dedicated to his art.