Can more than 1 person share access to an AirTag?

You can share an AirTag with up to five borrowers in addition to yourself, for a total of six users per item.

As long as these following requirements are met:

-Two-factor authentication must be turned on for your Apple ID.

-The person you share with must have an Apple ID and be signed in to iCloud with their Apple ID. You can’t share with a child account.

-The owner and borrowers must have iCloud Keychain turned on.

An AirTag can be shared. However, one of the requirements, is that both of you would have to have an iPhone running iOS 17+.

Ref: Share an AirTag or other item in Find My on iPhone - Apple Support