No. The ISO contains fixed in-game assets. Voice and text are tied to the original disc region. To play Japanese voices with English text, you would need to mod the game files (no stable patch exists).
However, for years, a dark cloud hung over this masterpiece: . Many gamers—especially those in PAL territories (Europe, Australia) or Asia—found themselves unable to play legitimate copies on their non-Japanese or non-NTSC-U consoles. This led to a surge in demand for a Lost Odyssey region free ISO verified solution. lost odyssey region freeiso verified
Example of what to look for in a verification log (Disc 1, NTSC-U base with region patch): NTSC-U base with region patch):