I always encourage my kids to follow their interests, regardless of college admissions concerns, and it worked out very well for them. Only one of my 3 took physics (AP, 5) but retook intro physics at college anyway. The other two did just as well with admissions, but they were involved in the performing arts.
In terms of admissions, think it really depends on what else you might contribute to the school and the mix of the class, in terms of your interests, activities and accomplishments.
I would echo @thumper1 to check with the schools you are interested in. But I doubt physics is a requirement and I really hope you take the bio!
I would also add that you can explain, or the guidance counselor can explain, that you love bio and had a scheduling issue that prevented you from taking both bio and physics. Our guidance counselor did that because our school had many scheduling issues and one kid could not take math and music theory, and dropped math. The college understood.
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