In Black Panther we have seen T'Challa's power being stripped away during ritual combat. So is that the same liquid which gives him power in the first place or is it a different herb? Could it nullify the powers of any other superhuman being, too?
We don't have any information (that I can find) on what the "power-removing" liquid is made from or its effectiveness on powers in general.
I do NOT believe it is the same liquid as gives the powers, that's just not really logical.
It seems likely however, that it merely neutralizes the effects (quite rapidly) of the Heart-Shaped Herb on the human body thus removing the Black Panther powers.
If that is its only property then it would have no effect on other superheroes who get their abilities from myriad other sources.