No, as the password has not been released to the user, TPAM does not automatically change it after a autologin PSM session.
However, TPAM can be configured to change the password in this instance, to do this:
1. From /tpam | Manamgement | Profile Management create a new "Post Session Processing" profile~
2. Check the "Trigger post-release processing for requested account's password?"
3. Assign this policy on to each required managed account in PSM Details | General | Post Session Profile
4. Ensure the account is set to "Auto" management
5. From /admin | System Status/Settings | Agents | Post-Session Processing, ensure the agent is started and set to the required frequency.