Restoring too large Photos library
I need to restore my Photo library from external HDD Time Machine back-up from 2017-01-22. The problem is that my mac drive is only 250 Gb with available space only 35Gb, and the Photos library is 95 Gb. When trying to restore the back-up version, I get a message that I should make 60Gb free space on my computer first.
In principle I could temporarily move the older iphoto library (68Gb) to external drive, but for some reason copying takes 11 days (I wonder why it takes so long to copy this file, other files are copied roughly with speed of 3 Gb in one minute).
Can I just delete the current Photos library and restore the 2017-10-22 version from Time Machine?