Question about TCL MOVETIME Family Watch MT40X

No, that is not possible.

Yes, I installed firmware version MT40_EUZ_00.01_01 .208 yesterday and the "VoLTE" option was now displayed in the "More -> Settings" menu. Don't know since when this version is available. But I had previously installed version 205, where the option was not yet available. After activation you can finally make calls again (ALDI/Sunrise).