To clarify, the original Lua project (found at lua.org) and LuaJIT (available at luajit.org) are distinct projects. LuaJIT enhances Lua 5.1 compatibility by offering substantial performance improvements, both with and without its Just-In-Time compilation features, compared to the standard Lua 5.1 implementation. Assuming that a system like DCS relies heavily on Lua's table structures, which are dependent on Lua's hashing functions and internal mechanisms, a switch to LuaJIT would lead to more efficient table access. This is because LuaJIT not only compiles the code for reading tables, resulting in smoother linear execution but also employs a more efficient and better-distributed hashing algorithm (https://en.wikipedia.org/wiki/Hash_function).
Regardless of whether DCS utilizes Lua solely for its hash tables, which it doesn't, LuaJIT has the capacity to speed up both the lexing/parsing phase—which translates the program's text into a form the computer can process—and the performance of table operations.
It is important to mention LuaJIT's performance in calling C and C++ functions is better than Lua 5.1 too, so switching to it will boost communication with DLLs and compiled part of DCS.
The best thing is that LuaJIT is C API compatible with Lua 5.1 C API, so it is possible to use it as a drop-in replacement in DCS with some small changes.
The other positive point is that LuaJIT is well battle-tested, companies and organizations like Cern, Cloudflare, and Cisco are notable users of it.
I would love to hear from the DCS development team.