They're pretty common in some places. The E17/A22 entering France for example has these overhead signs[0] that go from 110 in good conditions down to 70 in very bad conditions or even 50 if there's congestion. There are also similar signs in Belgium but they're more rarely adjusted depending on weather, it's usually just according to traffic.

[0] https://maps.app.goo.gl/pbCArbN5yraJZFBw9