Sure! That’s totally possible, but we’re not completely sure how that would best work. Her harp, like the Ocarina, has the magical abilities necessary for teleportation and (presumably) control over weather as well. One’s mind immediately springs to time travel capabilities, but if Sheik were capable of doing that she could’ve easily gone back in time and destroyed Ganondorf before his wimpy ass could even think about attacking the kingdom. Just UTTERLY wreck him.
It’s certainly a very powerful artifact and we could see that working out quite well for her! If we could add on to this idea, perhaps another thought would be to call on some of her little friends for some backup magic?