do we have option to approve products first after vendor adds a new product

Hi @ks1595, thanks for getting in touch with us.

Yes, our plugin provides an option called “Publish Products” (https://prnt.sc/10pwb28), you need to disable this option in order to let admin approve products first.

This doc will help you out further : https://wc-marketplace.com/knowledgebase/product-management/

Let us know if you have any further query.