Neither is "correct". Each holds a different meaning.
'hiding' shows that the cat did the action of hiding under the bed while 'hidden' shows that someone hid the cat under the bed, perhaps in a cage.
I guess that the first is the more likely because of the "noise" but I also guess that it's possible that someone took that action of "hiding the cat under the bed" because they knew that the cat did strange things under the circumstances cited.
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