Not that I’m aware of (hoping someone can correct me).
This is a very difficult vector problem (very computationally expensive and hard to implement a general solution) - CAD software like Solidworks have mathematical methods that solve this and then still only in special cases… doing it with vertices is something that even paid-for software like Maya don’t do automatically… so it’s not unreasonable that Blender can’t do it.
Best you can do is manual cleanup after the point in your screenshot:
With those faces selected do a Face->Intersect(Boolean),
then choose Union in the context menu and tick “Self Intersection”
That will only get rid of the intersecting faces, so you’ll still need to select the remaining overlapping vertices and dissolve or merge them.
Sucks that there is nothing to automatically do this (yet).