Does breaking a medium-large size project down into sub-crates improve the compile time?

I have a semi-big project with a full GUI, wiki renderer, etc. However, I'm wondering what if I break the UI and Backend into its own crate? Would that improve compile time using --release?

I have limited knowledge about the Rust compiler's process. However, from my limited understanding, when building the final binary (i.e., not building crates), it typically recompiles the entire project and all associated .rs files before linking everything together. The idea is that if I divide my project into sub-crates and use workspace, then only the necessary sub-crates will be recompiled the rest will be linked, rather than the entire project compiling everything each time.