You might be aware of Google working on the password sharing functionality in Google Chrome for desktops which will make it easier to share passwords with your family groups. Seems like Google don't want to leave Android behind in this case. 

In the latest version of Google Play Services 24.09.12 (190400-610662703) , I was able to activate the password sharing functionality using a flag (shared in the end of post). Here are some screenshots - 

As it's clear from the screenshots, this functionality will be part of the of the Google Password Manager which is a part of Google Play Services. So whenever Google rolls out this functionality, you will see a Share button in the credentials screen of a website. Tapping on it open a dialogue with some text - "You can securely share a copy of your password with someone in your family group." 

Right now, the functionality doesn't work because it is work in progress and just like Google Chrome desktop, password sharing will be limited to family groups. One more thing to notice is that the Share button will show up only for accounts with passwords, it won't work for passkeys, which should be obvious. 

There is no timeline for the rollout of the this feature. Might show up in a month or two. If you are rooted you can enable it with GMS Flags app by manually adding the below flag - 

Package - com.google.android.gms.credential_manager
Flag - Guards__password_sharing_enabled

For more much Google app's feature leaks you can join my telegram channel - Gapps Flags & Leaks or follow me on Twitter/X

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Version Certainly! Here's the modified code using hex codes for colors:
Feature name Passowrd Manager Sharing
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