If you schedule a meeting, you have no option to change the host yet. During the meeting, You can assign another Participant to be the new Host or a Co-Host of the meeting. Co-Hosts have the same privileges as the Hosts and Hosts are able to withdraw Co-host permissions. This feature is OFF by default.
To turn this on, Go to Meetings > Meetings Settings on the Admin Portal. Scroll down to In Meeting (Basic) and enable Co-host.