Currently, it seems that site members can Share documents and folders with anyone, but cannot then Stop Sharing them.
How can I give all site members this permission without turning them into site owners?
If you are the file owner, you can stop sharing the file or folder.
If someone has been given direct access, or has access through a specific people link, you can also change the sharing permissions between view and edit.
Check below official documentation for more details and steps:
This is the default behavior in SharePoint online - either site owner can control the stop sharing or the file owner can - site members cannot control this.
Refer to the below article how stop file sharing works:
You can stop sharing an item, see who it's shared with, or change the permissions others have to it, only when you are the owner of the item.
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