Credential Checkout for PasswordSafe Managed Account

Yes, the view password is dependent on what is configured in the access policy for the managed account. You can configure a combination of RDP/SSH/View password or just 1 of them. 

This kb article may be a help as it shows in resolution 1 how to get to view password:

Retrieve Password button is grey and inactive on Quick Launch tab
https://beyondtrustcorp.service-now.com/csm?id=kb_article_view&sysparm_article=KB0020993