There is no “child plugin” mechanism as such as an analogy to “child themes”, (even then this is a limited functionality, there are no “grandchild-themes” for instance).
The best chance I can give you is to customise the plugin’s behavior using the hook and filter mechanisms, however the success of this will depend upon how well the plugin’s creator anticipated your needs.
Myself I have never needed to modify a plugin, (though I have completely rewritten one), also my own plugins are under GIT version control.
If I did need to tweek a plugin, I would anticipate this update complication by keeping a pristine copy of my pre hacked plugin, when an update arrives I diff the original and new, and merge my changes into the mix.
