I played one more D&D game which gave pop up notification whenever reaction chance came. All while projectiles coming at player & freezing screen. This is pretty much D&D itself. Where reactions are inevitable.

A character can perform only one reaction during each round of combat. Not sure why you wrote that reply. Unless you are going to play full party of casters, you will not be getting shield, counterspell, counterspell.... lol

But it will be faster just imagine. Just click the available reaction & skip reaction turn. There is nothing more to do.
Reaction turn will make combat more dynamic as it will not freeze screen. Much more room for immersion.
But most important thing you are not considering is, player takes more time to take actions & it makes no difference. Only when AI takes time, it is a problem for many players.
I hope you find turn based combat interesting. Reaction turn is nothing but highly customised window of opportunity.