Yes and no. Yes, the supreme court is the ultimate interpreter of the constitution, and could theoretically decide that the 1st amendment does not cover hate speech. But there's so much precedent around this that it is profoundly unlikely.

If there really was the will to do it, it would be by passing a constitutional amendment. If you aren't familiar, there is a process by which the constitution can be modified, and this can be done to completely rewrite or contradict the current text. But it's a very difficult hurdle: https://en.wikipedia.org/wiki/List_of_amendments_to_the_Unit...