EEM's Override password policy option on individual accounts does not work and passwords expire.
Example: EEM Password policies have 90day max age, but 10 day warning. User account defined in EEM with Override password policy option. But that user's password expires after 90 days and is prompted to be changed.
Embedded Entitlements Manager
The Override password policy can override only the highlighted features not the password aging related stuff. Please find the screenshot with highlighted options which are overridden if selected for a specific user.
Compromising on the second half of the options may lead to security breaches so we can't offer any option to override the below rules.
For full adherence about no password expiry on these accounts, you are better off to configure EEM with LDAP and have your LDAP do the password control for these users.