Yes, it would be possible to make a lower first gear by increasing the underdrive of the input/countershaft gear.
This is done by decreasing the diameter of the input to countershaft constant run gears [making it weaker], and increasing the diameter of the matching countershaft teeth.
This would give a lower 1th, 2nd, 3rd, 5th, and rev ratios. To keep the 5th overdrive, the small gear would get smaller [weaker] and the large 5th gear would have to be made bigger. So we need a new input, c/shaft, both 5th gears--$$$$$
To change just the 1th gear would require a finer, weaker 1th gear set and require a new c/shaft and 1th gear.
If i lowered just the 1th gear to say 4.50:1, then what about the stock 2.33 2nd gear. Way to much of a jump.
There are no easy ways to change the ratio----
Marlin