Can you disable Microsoft Azure Multi Factor Authentication for a specific URL?

Yes you would want to use a conditional access policy setting it to not require MFA.

https://docs.microsoft.com/en-us/azure/active-directory/conditional-access/app-based-mfa
https://docs.microsoft.com/en-us/azure/active-directory/conditional-access/plan-conditional-access

If it is intranet, the Trusted IPs feature of Azure Multi-Factor Authentication is used by administrators of a managed or federated tenant. The feature bypasses two-step verification for users who sign in from the company intranet.

https://docs.microsoft.com/en-us/azure/active-directory/authentication/howto-mfa-mfasettings#trusted-ips

The remember Multi-Factor Authentication feature for devices and browsers that are trusted by the user is a free feature for all Multi-Factor Authentication users. Users can bypass subsequent verifications for a specified number of days, after they've successfully signed-in to a device by using Multi-Factor Authentication. The feature enhances usability by minimizing the number of times a user has to perform two-step verification on the same device.

After you enable the remember Multi-Factor Authentication feature, users can mark a device as trusted when they sign in by selecting Don't ask again.

Important to note - If an account or device is compromised, remembering Multi-Factor Authentication for trusted devices can affect security. If a corporate account becomes compromised or a trusted device is lost or stolen, you should restore Multi-Factor Authentication on all devices.

Like already mentioned by LearnCTX, a conditional access policy. However, I think you should be reviewing whether you want to truly exclude that application from MFA. Think of the reason you want to do so, but also think of the ramifications and risks (btan touches very well on this point).