When a turbocharger fails, it can sometimes result in engine oil entering the exhaust system, which could lead to the burning of that oil and the emission of blue or white smoke. However, this is a separate phenomenon from steam.
For excessive steam to exit the exhaust, there would need to be an issue with coolant leakage or coolant contamination. However, these issues are not typically caused by the turbocharger itself, but rather by faults in the cooling system or head gasket failures, for instance.