If puppy is being super obnoxious, yes, interrupt. Some older dogs will correct puppies, and others do not because, well, they're puppies. They get a puppy pass. I would watch some videos on dog body language, too. Your older dog may already be letting the puppy know that he is being too obnoxious, subtly. If your pup is ignoring the signals, immediately intervene. If you're noticing that the puppy is backing off or "apologizing", it's probably okay. Dogs are generally pretty good at communicating with each other, but sometimes the young ones need some help!