Visual Studio seems to have "edit and continue" which I only knew from VB, but seems to be available in C# and C++ too. Not the same, but it shortens the development cycle in a similar fashion.
The feature in Python reminds me on hot code loading in Erlang which I found quite interesting when i first read (never used) about the feature. I wondered which other languages provides (or didn't) an equivalent solution. Back then it felt a bit scary, with not much more than RCS as VCS around :) But I think Erlang implemented it for increased up-time, not for increased development cycle?
To keep the up-time high, today even parts or entire operating systems are patched 'live' (ksplice, kpatch, kgraft, AIX live update) (https://ksplice.oracle.com/) (https://www.ibm.com/support/knowledgecenter/ssw_aix_72/insta...). Here too to prevent downtime and technologically completely different from what is presented here.