Yes, except (unless I'm mistaken) the snipping tool can't add text and it can't draw boxes, which are two of the core use cases of screenshot annotation.

https://getgreenshot.org/ Fast, doesn't crash, does what you say and more.

i use monosnap for this reason (free version)

The number of times it crashes vs snipping tool, its like night and day.

yet i keep coming back for monosnap.... it made my snippets look somewhat professional (gone handwritten arrows lol)