Yes, the two balls will pass each other if the ball launched straight up reaches the same height as the initial height from which the first ball was dropped.
When the first ball is dropped from a height h, it accelerates due to gravity and gains speed as it falls. When it reaches the ground, its speed is v m/s.
At the same time, the second ball is launched straight up with a speed of v m/s. As it moves upward, it decelerates due to gravity until it eventually comes to a stop at its highest point.
Since the initial velocity of the second ball is the same as the final velocity of the first ball when it hits the ground, and both balls experience the same gravitational acceleration, their vertical paths will be symmetrical. This means that the second ball will reach the same height h before coming to a stop.
Therefore, if the second ball reaches the same height h, it will pass the first ball at that point.