I don’t think so George!
Try using this:
=Query(ImportRange()) and you will see how fast the data is updated.
In my spreadsheets, If I modify or add a new record (I have 150.000 records in my source spreadsheet), my other sheet gets new data in less than 1 min.
That is my sintaxys to get it:
=query(IMPORTRANGE(“1mEoXgU2StLrYa9TbvX00RdGFHsa1RFV_WP2Tnc7dtnw”,“Sheet 3!A1:F9”),"Select * ", -1)
I set up a timer trigger to change the date/time in some cells and I can see how my query retrieves the new data from my source spreadsheet every 1 min without problem.
Let me know if this solves your problem.
Saludos
Gavp