You can always change a collaborator’s role from Editor to Reviewer and vice versa.

Open the Share panel of the folder
Select the current role of the collaborator
You can then be able to switch the role from the drop-down menu - Editor or Reviewer

Change Collaborator Role in a Folder

Changing role in a folder share, will also change the role in documents as well.
Automatically changes the privacy level of all documents shared in the folder - Applies different privacy level for Editors and Reviewers. Please refer to Sharing a Folder article for details.

Learn more about Removing Collaborators from a Folder
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