If you have the Morphs++ pack,. then you can inject the “Arms size” and “Legs length”, then shorten them
If you have Stephanie 4, which is a “petite” character, you can add that figure shape to V4,. ..the same applies to the other gen 4 female figures.
So, the answer is yes, you can make V4 shorter or taller,. but it depends on what morphs, and V4 based figures you have.
Quick pic,. a Short V4,.. and the Default V4
Click thumbnail to see full-size image