How to toggle password visibility in PasswordItem

[Isomorphic]

You can just create two items: a normal TextItem and a PasswordItem - and toggle which one is visible when the user clicks on the icon.

[PSimonazzi]

I would like to add a FormItemIcon to a PasswordItem to toggle password visibility (similar to what Edge does natively with the "eye" icon).
In HTML this involves changing the input type attribute between "text" and "password".
Is there a way to do this with PasswordItem?