Personal preference would be not reduce rest times if it keeps you from keeping your strength up.
The model I use is keep at least one core exercise, 2-3 sets, training in the 6-8 range, second set train to failure. For example Bent over BB Row for back, or weighted chins. And then I might do 1-2 more exercises, 2-3 sets, and go a little faster, and maybe train 8-12 reps. But never so fast rest times that it's a throwaway set where I am decreasing my weights too much.
The goal is to retain my muscle when I cut. Not burn calories by weight lifting. I use diet and cardio and supplements in that order, for the fat loss.
In sum, keep lifting weights for size and strength. Dont switch to a "cutting" lifting workout, where you're going fast and light weights.
Mesos and Endos may be ok with training with lighter weights - I need to keep training heavy, with lower volume to keep my muscle.
Your mileage may vary - my post is simply about what works for me.