Computer Configuration > Administrative Templates > Microsoft Edge > Password manager and protection
Both
HKLM\Software\Policies\Microsoft\Edge
Configures the Password Generator Settings toggle that enables/disables the feature for users. If you enable or don't configure this policy, then Password Generator will offer users a strong and unique password suggestion (via a dropdown) on Signup and Change Password pages. If you disable this policy, users will no longer see strong password suggestions on Signup or Change Password pages.