Bicycles are vehicles. Do you have qualms about passing a slower motorist when you are driving? Of course not, that's just the way of the road. In your car, you activate your turn signal. Cycling is a bit more "person2person", so simply, in a friendly voice, announce "On your left!"

It's not "I'm faster than you are", simply at this moment I am going faster than you. Of course emasculatory tone is neither needed nor welcomed!

Cheers,
Geary