I have project in SwiftUI 2.0 and I want to update it for Swift 3.0, is it possible to do that?
I guess you mean SwiftUI 3 by Swift 3.0. (There is no official labeling on versions of SwiftUI. And the current version of Swift is 5.4 and the coming version is 5.5. Swift 3.0 is too old.)
is it possible to do that?
No simple way. Generally, you need to modify your code according to the changes in iOS 15 (or other new platform versions) as well as other changes of APIs.
The project made using SwiftUI 2 would still be a valid project even in Xcode 13/SwiftUI 3, but you may need to replace deprecated/removed APIs in your code and test your project wholly to check if some behavior changes would affect your app.