They do not, at least not in the way "in-process sandboxing" means in the context of Java's Security Manager, which is now being considered for deprecation and removal. Java's Security Manager does not create a single set of permissions for the entire Java program, but rather assigns different permissions to different Java classes running in the same program and even on the same thread, through a mechanism that assigns different permissions to different subroutines on the call-stack, composing them in some elaborate way. The same operation can be allowed or blocked depending on the call-stack by which it is reached. For example, writing to a specific file or socket could be allowed if the call stack contains a trusted subroutine that is known to ensure the access is done "safely" but blocked otherwise.
The reason this is now being considered for removal is that even though this mechanism is very flexible and powerful in theory, it is too elaborate to be used correctly by most programmers in practice.