While you probably -could-, will you really gain efficiency
by so doing? A/C systems seem to be pretty well optimized,
motor / compressor / air handler / blower, and you may
not win anything by reducing one piece's heat-throw -
only make all of the rest, in effect, oversized uselessly.
After all, you have the same heat load regardless, right?
So I'd expect you might cycle less but run longer and,
if the original designer did their job, at some point away
from designed peak efficiency.
There are variable (often just 2-lung) A/C compressors,
occasionally you'll see continuously variable control
on a single lung but this appears to be low value judging
from the relative rarity of the approach. The air handler
blowers, though, seem to have been moving to a more
continuously-variable control (probably because this
is something the customer can sense, while the pump
sits outside and just makes noise regardless).
rarity.