Recall, or look-up, Charles’ and Boyles’ Laws regarding interrelationship of temperature and pressure.
Operating any tire outside of its design pressure compromises tire integrity. That “design” temperature is predicated on vehicle weight, suspension activity, tire design and build materials and provides a specific number for that tire’s application. It is the rapid flexing of the sidewalls which primarily raise tire temperatures when under load and at speed, while increasing ambient and pavement temperature will contribute to increased internal tire pressures. Simply bending a coat hangar rapidly back and forth will demonstrate temperature rise from flexion. It will also demonstrate failure from heat and loss of integrity.
Never remove air from a hot tire (nor drench with cold water to cool). Allow it to cool naturally. Then check and adjust to proper pressure.
To nearly eliminate pressure fluctuation caused by rising and falling ambient temps, you could replace air with nitrogen as race tires and commercial and military aircraft tires are maintained because of the large temperature excursions they routinely experience in operation. Many new cars are sold with nitrogen in the tires. But just adding nitrogen doesn’t get the job done. A process and special equipment is required to totally replace air with nitrogen to get the benefits of nitrogen.