Yes, do it. It's doable if you're not a very large person. Just position yourself accurately so the output goes in the exit, not in front of it or behind it.
Or if you're in Asia, just get an Asian style squat toilet.
In a Western toilet with water in it, the splash is always there, whether you're sitting or squatting.
The only time there isn't any splash is in a proper Asian squat toilet, as it doesn't hold water. The output can be drained away as often as needed, again with no splash.