I have NVMe SSDs, not to mention gigabytes of free RAM, and even an Optane drive on top of that. And I still have load times in current games. They're very brief of course, but they are non-zero.If they do use a NVMe SSD (as it looks like), then yeah, they could. As long as the rest of the components support those speeds.
btw I'm not sure NVMe is super relevant for loading a level on a home device running a single game. It is a big deal for the data center with high queue depth but that's not what we have here.