Unfortunately, there is no direct option available inorder to achieve your requirement.
However, you can achieve your requirement by adding the below code in your child theme’s functions.php.
add_action('wp_footer', 'th3ed45_footer_frontend_action', 999);
function th3ed45_footer_frontend_action(){
?>
<script>
(function($){
var field_label = 'field_label'; // Update your field label
var field_label = field_label.replace(/\s+/g,"");
var target = 'dl.variation dd.variation-'+ field_label + ' p';
$(document.body).on('wc_fragments_refreshed', function(){
$(target).each(function(){
var f_value = $(this).text();
var password = f_value.replace(/./g, '*');
$(this).html( "<p>"+password+"</p>" );
});
});
$(document).ready(function(){
$(target).each(function(){
var f_value = $(this).text();
var password = f_value.replace(/./g, '*');
$(this).html( "<p>"+password+"</p>" );
});
});
$(document).on('updated_checkout', function(){
$(target).each(function(){
var f_value = $(this).text();
var password = f_value.replace(/./g, '*');
$(this).html( "<p>"+password+"</p>" );
});
});
})(jQuery);
</script>
<?php
}
The code snippet is pure javascript and you need to update field_label in the above code with your password field label.
We hope this will help.
Thank you!