Can I create (or update) user password with WP-CLI by hash?

There is not “one command” in WordPress CLI that does the job: https://github.com/wp-cli/wp-cli/issues/2270

However using other commands, you can overide the user password directly in the database using the following:

USER_ID=$(wp user list --login="$USR_LOGIN" --format=ids)
wp db query "UPDATE wp_users SET user_pass="$HASHED_PASS" WHERE ID = $USER_ID;"

First line is optional if you already know the user ID.

To hash a password, use the following:

wp eval "echo wp_hash_password('$CLEAR_PASSWORD');"