You can enable read optimized cache on CSV disk on Hyper-V v3.
However there is no such option on GUI to enable CSV Cache, so you should go with Powershell.

I set 4 GB memory for CSV Cache allocation: (by default, it’s 512 mb)

(Get-Cluster).SharedVolumeBlockCacheSizeInMB=4096

Then I need to enable CSV cache on clustered disk:

Get-ClusterSharedVolume "Cluster Disk 1" | Set-ClusterParameter CsvEnableBlockCache 1

I want to show you my test results with different cache sizes.

4 Gb CSV Cache:

12 Gb CSV Cache:

No CSV Cache:

As you see from results, Cache size doesn’t matter in my case. Because I just have one virtual machine. Maybe if you have more virtual machine, you may get different results under different workloads.

Also it’s very clear that, CSV Cache effects on I/O response time. I got very good results after enabling CSV Cache.