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?
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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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