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No, the president doesn’t have that power.
https://crsreports.congress.gov/product/pdf/LSB/LSB10655
https://norml.org/news/2021/11/11/crs-report-president-lacks-constitutional-authority-to-end-cannabis-prohibition-by-executive-order/?noamp=mobile
The president does not have the authority to unilaterally change drug classifications, only to nominate a DEA director who will engage in the defined process for changing the schedule of the the substance.
https://www.justice.gov/opa/pr/justice-department-submits-proposed-regulation-reschedule-marijuana
Which is what’s happened.
The president doesn’t have the power to change the law.