The specific regularization scheme or its concomitant cutoff scale $\Lambda$ ($\frac{1}{\epsilon}$ in DR) has nothing to do with the hierarchy problem.
I don't blame you, actually even some professional physics papers got confused (for instance, some might erroneously argue that there is no hierarchy problem with dimensional regularization).
The hierarchy problem has to be framed in the context of beyond standard model physics. You have to distinguish between 5 mass scales, namely
- $m$: the mass of the particle in concern, e.g. Higgs mass $m_H$.
- $\Lambda$: the UV cutoff scale of the regularization scheme (in dimensional regularization (DR), $\frac{1}{\epsilon}$ plays the role of $\Lambda$, where $\epsilon = d -4$). At the end of the renormalization procedure, $\Lambda$ can be safely sent to infinity (or $\epsilon$ sent to zero in DR), thanks to the painstakingly crafted counter terms.
- $Q$: the energy scale of the incoming/outgoing particles involved in a scattering process.
- $\mu$: the renormalization scale, which is an arbitrary scale to anchor the scattering amplitude (or coupling 'constant') as a function of $\frac{Q}{\mu}$ (or $ln(\frac{Q}{\mu}$)). The renormalization scale $\mu$ is a fiat scale that is set forth by human convention/convenience. Usually $\mu$ is set to the typical energy scale $Q_0$ of a scattering process.
- $M$:the mass scale where beyond standard model (BSM) physics effect comes into the picture. $M$ could be either the grand unification scale $M_{GUT}$ or Planck scale $M_P$. In the effective field theory framework, the BSM Langrangian terms are suppressed by a factor of $(\frac{Q}{M})^n$, with $n>0$.
Assuming that there are BSM Langrangian terms, the hierarchy problem concerns the uncanny fine-tuning to arrive at the tiny value of ${m}$ compared with ${M}$, unless there is a spontaneously broken symmetry (technical naturalness) constraining the otherwise large BSM quantum loop corrections (of order $M$) to $m$.
As you can see, the hierarchy problem has to do with $M$ of energy scale #5, but not $\Lambda$ of energy scale #2. If there is no $M$, "the quadratic divergent corrections to Higgs bare mass" mentioned in OP is of the order $O(\Lambda^2)$, which can be canceled out by the $\Lambda$-dependent mass counter term. And the cutoff $\Lambda$ can be safely sent to infinity without any issue. Thus there is no hierarchy problem if there is no $M$.