Yes. Invite as many people as you need by email and give each one an access level. It works well for a family list, a group gift, or an event a few of you are planning together.
Steps
Open the wishlist and go to its access (sharing) settings.
Invite each person by email address and pick a level for each: Contributor to add and manage wishes, or Full Access to also change the wishlist's settings and delete it.
Each person accepts their own invite and signs in with the email you invited.
Everyone with edit access now works on the same list.
Good to know
There's no separate "group" or "team" wishlist. It's an ordinary wishlist with more than one person invited, and people can hold different levels on it: one Full Access co-owner and four Contributors, say.
A Contributor can only edit or remove the wishes they added themselves. The Owner and anyone with Full Access can manage every wish on the list, and only they can rename it, change its settings, or delete it. Deleting removes it for everyone.
Everybody needs their own invite to their own email. There's no shared password and no single link that hands out editing.
Nothing caps how many people can co-manage a list. You can put up to 50 email addresses into one invite, and there's a limit on how many invites go out in a short time so the form can't be used for spam. A very large group just means inviting in a few rounds.
Related
"How do I invite another person to edit my wishlist?"