No way. The SVP was an exceptionally capable processor in 1994, the Mega CD was released 3 years prior.
AFAIK the Mega CD just added another 68000, please correct me
Sega SVP specs
Manufacturer
Sega
Introduced
1994
Discontinued
1994
Type
Digital signal processor
Processor
Samsung SSP160x
Frequency
23MHz
Memory
Two independent high-speed RAM banks, accessed in single clock cycle, 256 words each
16 Ă— 16-bit multiply unit
32-bit ALU, status register
Hardware stack of 6 levels
128KB of DRAM
2KB of IRAM (instruction RAM)
Memory controller with address mapping capability
2MB of game ROM
Sega CD specs
Motorola 68000 16-Bit @ 12.5 MHz (syncs with Genesis 68000 CPU)
Hardware Graphic Processor (Custom ASIC Chip)
Biaxial Rotation, Scaling, Zoom
Number of Simultaneous Colors On-Screen (Gameplay): 64 out of 512 color pallette
Supported Display Resolutions: 320 x 224 Pixels and 256 x 224 Pixels
Number of Simultaneous Colors On-Screen (Full-Motion Video): 128 to 256 (Cinepak and TruVideo Modes)
Video Size: From 1/4 to Full-Screen
Advanced compression scheme
Software-based upgrade
RAM
6 Mb (Program, Picture & Sound Data)
512 Kb (PCM Waveform Memory)
128 Kb (CD-ROM Cata Cache Memory)
64 Kb (Backup Memory)
Boot ROM
1 Mb (CD Game Bios, CD Player Software, CD+G Compatible)
CD-ROM
ISO-9660 Mode 1 Compliant - 1x Speed Drive (150 Kb/sec)
Rotational Direction: Counter-Clockwise (Against Surface Read)
CD Access Time 0.8 Seconds Minimum ~ 1.4 Seconds Maximum (800 ms ~ 1400 ms)
Average: 0.8 Seconds (800 ms)
Storage Media
Compact Disc Read-Only Memory (CD-ROM) Disc: 500 MB Maximum Capacity
Supported Disc Types: 5 inch (12 cm) and 3 inch (8 cm)
Sound Circuitry
Ricoh RF5C164 Chip @ 12 MHz Max
PCM Sound Source: Stereo, 8 Channels
Sampling Wavelength: 32 KHz Max (44.1 KHz Max for CDDA)
16-Bit D/A Converter
8x Internal Over-Sampling Digital Filter
Supported Audio Formats: ISO-9660 Mode 1, Red Book (CDDA), CD+G