There is no provision anywhere that I am aware of, for competitions to set their own VAR protocols. The IFAB has issued a protocol and mandated that all competitions wishing to use VAR must receive approval from the IFAB and follow the IFAB protocol. As
@one points out, the Laws of the Game contain a whole section (8 pages) on how VAR must be used which is basically just a summary of the previously-issued, full IFAB protocol.
The EPL may wish to minimize the amount and length of OFR reviews but they must do so in a way that conforms to the IFAB's VAR protocol. As the Laws say:
These principles are clearly laid out in the Laws and as with all other parts of the laws, individual competitions, associations or confederations may not make up their own versions of the law.