So I found out a handy option in DxWnd that one can use to adjust this animation speed.
You can change the speed by adjusting the "Time Stretching" option in the Timing tab of DxWnd.
For example setting the time stretch to x8 results in a much smoother animation that just looks nicer (in my oppinion) than the default slide show speed that the game has. Ofcourse one can experiment with different values to find one that looks best.

Edit: I did some comparing of the Steel Panthers 2 animation speeds to SPWAW and I think a x4 time stretch value in Dxwnd might give the closest match to the old DOS games animation speeds.