The Olympus 35 SP is not designed with a true multiple-exposure control, so doing it by holding the rewind release is unreliable. What you’re seeing—partial frame advance when the release re-engages mid-stroke—is a normal consequence of the camera’s film transport design.

In practice, that means there isn’t a dependable built-in method for repeatable double exposures on this camera. You may be able to force the mechanism occasionally, but frame spacing and registration are likely to be inconsistent, and you risk overlap or partial-frame exposures.

If you want consistent multiple exposures, the better options are:

• use a camera with a dedicated multiple-exposure feature, or
• rewind and reload carefully for planned overlaps, accepting that alignment may still vary.

So the short answer is: possible only as a workaround, but not reliably on the 35 SP.