No, this is a task confined to Superadmins. EE checks the member group id here, making sure it equals “1”.
If you cannot change another user’s password without knowing the current password, you have essentially disabled the ability to change other people’s passwords since, in 99% of the cases, a user needs their password changed because they can’t remember it.
So, I assume EE does this for “security” purposes when in reality, it forces me to give my client Super Admin priviledges so they can change their users’ passwords when needed. Now, I’ve opened the whole backend to my client which, in my opinion, is a much worse security problem than letting them change a password.