The turpentine is just going to evaporate away so I would imagine the end result is the same.
That was my thought.. The smell might deteriorate a bit though. Linseed oil and bees wax makes for a quite attractive scent imo.
Funnily I discovered that enough bushcraft folk recommend a 2:1:1 ratio of wax, turpentine and boiled linseed oil for a re-proofing mix. I've never tried it.
@MisterMikkel started
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The turpentine is just going to evaporate away so I would imagine the end result is the same.