Too much rain is a problem. Even so in Eretz Yisroel it is considered (enough of) a sign of blessing that we don't make a taanis that it should go away but outside of Eretz Yisroel it isn't even (enough of) a sign of blessing that we don't make a taanis that it should go away.
The Gemorah (Taanis 22B) discusses the Mishna which says that we make fast about all problems other than too much rain and says :
תָּנוּ רַבָּנַן: עַל כׇּל צָרָה שֶׁלֹּא תָּבוֹא עַל הַצִּבּוּר מַתְרִיעִין עָלֶיהָ, חוּץ מֵרוֹב גְּשָׁמִים. מַאי טַעְמָא
.אָמַר רַבִּי יוֹחָנָן: לְפִי שֶׁאֵין מִתְפַּלְּלִין עַל רוֹב הַטּוֹבָה
(loosely translated: we don't fast over too much rain because we don't fast over a good thing.)
The Gemora later on says
אָמַר רָמֵי בַּר רַב יוֹד: וּבַגּוֹלָה, מַתְרִיעִין עָלֶיהָ. תַּנְיָא נָמֵי הָכִי: שָׁנָה
שֶׁגְּשָׁמֶיהָ מְרוּבִּין, אַנְשֵׁי מִשְׁמָר שׁוֹלְחִין לְאַנְשֵׁי מַעֲמָד: תְּנוּ עֵינֵיכֶם
אֲחֵיכֶם שֶׁבַּגּוֹלָה, שֶׁלֹּא יְהֵא בָּתֵּיהֶם קִבְרֵיהֶם
(very loosely translated: outside of Eretz Yisroel we do daven immediately when too much rain falls)
The Rambam Hilchos Taanis 2:15 says :
עַל הַמָּטָר כֵּיצַד. הֲרֵי שֶׁרַבּוּ עֲלֵיהֶן גְּשָׁמִים עַד שֶׁיָּצֵרוּ לָהֶן הֲרֵי אֵלּוּ
מִתְפַּלְּלִין עֲלֵיהֶן. שֶׁאֵין לְךָ צָרָה יְתֵרָה מִזּוֹ שֶׁהַבָּתִּים נוֹפְלִין וְנִמְצְאוּ
בָּתֵּיהֶן קִבְרֵיהֶן. וּבְאֶרֶץ יִשְׂרָאֵל אֵין מִתְפַּלְּלִין עַל רֹב הַגְּשָׁמִים מִפְּנֵי
שֶׁהִיא אֶרֶץ הָרִים וּבָתֵּיהֶם בְּנוּיִים בַּאֲבָנִים וְרֹב הַגְּשָׁמִים טוֹבָה לָהֶן
וְאֵין מִתְעַנִּין לְהַעֲבִיר הַטּוֹבָה
How (why) would we fast because of rain? When the rainfall is so abundant that it causes difficulty, prayers should be recited. There is no greater difficulty than this, that homes should fall and become the graves (of their inhabitants).
In Eretz Yisrael, we do not pray for rain to stop when there is an abundant rainfall. It is a mountainous land, and its houses are made of stone. An abundance of rain is of benefit, and we should not fast to cause a benefit to pass.
The Tur and Shulchan Aruch, (577:1) say that we daven for rain to go away even in less severe situations that the one given by the Rambam
בכל מקום אם רוב גשמים מטשטשים הקרקע ומונעים המחרישה
מתריעין ומבקשים רחמים
Anyplace where too much rain is muddying the ground and preventing it from being plowed we blow shofar and ask for mercy that it stop
From all the above it seems that too much rain falling somewhere out of Eretz Yisroel not a sign of anything good.