You can do something but probably not enough.
The spring, oil and air gap can be tuned, there's a lot of mileage in that from my experience with dirt bikes.
It should be possible to mod the dampers shim stack.
That just makes the best of what there is.
I can compare a good shock set up on my 748R to the standard S2R and yes it makes a difference.
Personally I'm not sure that the expensive of change would be worth the cost to try and get the S2R to handle half as well as the 748R, (shocks, lighter wheels, maybe a kiaymi frame and alloy sub to drop a few kilos)
Yes it would be nice if it were a bit better but both can hack along pretty well, both can be quick enough to be a hairy ride and hold their own, ones just faster ... just by a bit