No.
The log can only be made reusable once the transaction completes. You can try to shrink it, but since there will be no free space the shrink will have no effect.
You should be able to add a second log file somewhere else. Just remember to remove it once the delete has finished
Gail Shaw
Microsoft Certified Master: SQL Server, MVP, M.Sc (Comp Sci)
SQL In The Wild: Discussions on DB performance with occasional diversions into recoverability
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