Albert, the choice of preposition is usually related to the words before, rather than after the preposition. “Far from” is a fixed expression. Also, “from” usually refers to a physical relationship.
In the second case, we could indeed use “from traffic”, but the meaning would not be exactly the same. In “the noise of traffic”, “of” is not indicating a physical relationship, but merely turning “traffic” into a modifier of “noise” — we could also say “the traffic noise”. In fact, I highly recommend my Slavic-speaking students practice using constructions such as “traffic noise”, precisely because it improves their fluency by allowing them not to worry about the preposition.