Smaller target directory size would be such a lifesaver. Hoping the best for you, and Rust!
It would help, yes. Here's one of my projects, that uses different subdirectories in target/ based on compiler options pre-commit runs:
$ du -hcs target/
190G target/
This!
There's a recurring meme here and in other social media about rust being slow to compile, but anyone who's worked with Rust know that target dirs are a much more annoying papercut in practice than the relative speed of the compiler (which isn't appreciably worse than any other toolchain out there for the most common workflows).