Having a quicker recharge is always good, but the overshield is just bad.
The overshield isn't anywhere near tanky enough to compensate for the immense movement debuff, or to be useful in most situations. It needs a drastic increase to resistance against combatants and (preferably) allow you to sprint with the overshield (a slower sprint than normal, but faster than walking).
I know stacking it with the Heir Apparent shield makes you incredibly tanky, but that's one very specific use and the Heir Apparent is providing 90% of the protection.
Edit: Another must is the ability to cancel the overshield
Edit 2: the animation is too long as well
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They need to be manually cancelled and allow you to move at regular speeds without sprinting or using Lift. That’s the best way to fix them.