There are three separate issues to consider. The photographer recording the incident, the track/promoter/sanctioning body trying to suppress the incident and who might publish photos of the incident.
The photographer's job is to get photos, not censor regardless of the reason, and it would be unethical of the photographer to engage in censorship.
The track/promoter/sanctioning body will want to suppress the incident for a myriad of reasons, and will threaten photographers more often than not to surrender their film/memory card. It would be unethical of a photographer to aid in hiding the truth regardless of the reason.
Those who might publish a fatal accident photo can do so or not as it is their decision alone, and not the decision of the photographer.
I speak from experience, as I shot motorsports for (as a freelancer) Road & Track and a French press agency for many years. The last F1 death before Senna in 1994 was Riccardo Paletti at the 1982 Canadian GP. I was shooting the start and Pironi's Ferrari on pole stalled and Paletti, the last car on Pironi's side of the grid, plowed into the motionless Ferrari under full accelleration and he was killed instantly. I had a wide sequence of the start, and R&T ran three shots from the sequence. The first frame has the moment of contact as the Ferrari's front wheels are off the ground, and in the second and third frames Paletti was deceased. The AD chose to publish the sequence, while the assistant AD said he would not have published it. Their choice, not mine.
And a few minutes after I shot this pic of Rolf Stommelen at the 1983 Riverside IMSA race, the rear wing failed on Rolf's "Moby ****" Porsche 935 at the end of the long straight and he was killed. A friend was shooting for the L.A. Times and got the whole sequence, and track personnel threatened him agressively to give up his film. He wouldn't do it, nor should he have.
Just get the pic.