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Switching from an active to a passive fund creates essentially no *absolute* price impact either because most active funds are nearly always fully invested (maybe 3-5% cash). Increasingly they are shadow indexing too so active -> passive switch barely even causes relative impact.
To the extent that flows have depressed the price of small cap stocks, it’s because investors are rejecting small cap funds and choosing an S&P 500 tracker instead, which is an *active* choice.
Value and size are also correlated (small stocks tend to be cheaper) so the choice to buy a large cap index fund rather than small cap also increases the growth/value spread, but again this is an active choice.
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