Not realistically, or not much
There is a hard cap on how fast a human can think. Specifically, there are neurochemical reaction speeds to contend with that simply take time. Thoughts don't happen instantly, and reacting to any external stimulus has a delay. Specifically, it is widely recognized that a human has a reaction speed of around 250ms to visual input to execute a "prepared action". This can be reduced with training to make a specific reaction instinctual instead, and there are some studies that show you can increase reaction speed by eating specific foods, but generally, reaction speed is something that's mostly determined by fitness, age, and genetics.
Interestingly, as the information-bandwidth that you need to react to decreases, reaction time decreases too. Reacting to a sound is faster than reacting to something visual, and reacting to a touch sensation is even faster, reaching about 150ms.
That said, in certain scenarios, time acceleration is already used. Many people listen to audiobooks or podcasts at an accelerated speed, and switching a video to play at a higher speed is also rather common. Unfortunately, the human mind is simply limited on how much "bandwidth" it can intake per certain amount of time. From personal experience, I know that I can watch a video at 1.25 speed and only negligibly impact retention, but when I crank it to 2x speed, I need to turn on captions to keep my information retention high because I simply can't process all the video and audio at the sped-up pace but I can read and comprehend at that pace.
You can try this at home. Pick an information-heavy video, and crank the speed until you reach the point where you aren't understanding anything anymore.
Because of this, I don't think you could crank the speed of a VR or even a "Full Dive" significantly. Maybe if you start off slow, you could crank the speed by a couple percentage points: TV channels have gotten away with cranking speeds to 104% to increase advertiser time with only very few people noticing, but anything more would immediately be noticed and likely perceived as very uncomfortable. Maybe, provided your equipment can interact deeply with the brain or people take reaction-speed increasing drugs, you could crank it into the tens of percentage points (110%, 120%) but anything more would likely be uncomfortable and disorienting.