In Photoshop does, there is no such functionality. Only to work alternately with one file, having uploaded the psd somewhere in the shared folder. Worked, saved, another one has opened the file, worked also, saved, etc.
Online at the same time in Figma, for example. But it's not for retouching and drawing, for example.
Understand the essence: at the same time, you can work in those services or applications that are inherently online tools and all the files stored on the server.