You can. There are many great fan-edit version. Ravenomics version (2 movies around 4 and half hours ) is one quite good, but there are many others to check out. It is no secret that they added a lot of extras and invented the whole (non-canonical) love story between Elves and Dwarves just to stretch enough content to have trilogy, so in this case cutting those parts out helps to have a pretty good (and faithful) movie.
I really hope this isn't another community that is obsessed with the Peter Jackson Lord of the Rings movies and feel like any other media is crappy sequel to them
Yeah it gets really frustrating, like yeah, he did a good job with lotr but there is so much more to Tolkiens universe than one directors interpretation of a singular event in the gigantic history of middle earth.