In short: no. Even the most divergent and controversial adjustments to the chronology of events in ancient Mesopotamia and Egypt do not accommodate that scenario. When exactly events from the Bronze Age occurred is the subject of significant debate, though more so in Mesopotamia than Egypt. However, none of those debates allow for Khufu and Sargon to be contemporaries.

Egyptian chronology is mostly considered settled by modern historians. The well preserved nature of organic material in Egyptian tombs and finds buried under the Sahara for thousands of years allows for relatively precise carbon dating and dendrochronology (marking time based on tree rings seen on wooden objects). These dates can then be compared to the written record, archaeological finds and sediment layers at similar sites, and astronomical records of predictable or firmly documented events. It creates a reliable timeline for historians and Egyptologists to work with known as the Conventional Egyptian Chronology, which starts Khufu's reign in 2589 BCE.

A number of divergent chronologies for Egypt have been proposed over the years. Most notably this includes "Rohl's New Chronology," and the "Glasgow Chronology," the latter actually a revised form of an earlier alternative system. All of these chronologies are plagued by the same set of basic issues. Very few, aside from Rohl's, were formulated by actual Egyptologists or even historians, and all of them are religiously motivated, trying to formulate a version of Egyptian history that is more in-line with Biblical references to Egypt. They often rely on dismissing scientific analysis of remains and reinterpreting linguistically clear names as secret second names for well known Pharaohs. Regardless, all of these alternative chronologies focus on the later Egyptian dynasties and do not alter the chronology for the Old Kingdom, meaning Khufu's dates stay the same.

Partially as a consequence of less well preserved organic material, and partially because of the much larger number of independent states maintaining their own records, the chronology of the Near East is open to significantly more debate. Prior to the fall of the first Babylonian Empire, it is difficult to get a fixed date on specific king's or events. The most widely accepted version of things is the so-called "Middle Chronology," with the High Chronology and Low Chronology still maintaining a large number of devoted scholars. There are also slightly less popular Middle-Low and Ultra-Low chronologies that attract less attention, but are still debated.

The "lower" the chronology, the later they place events before the fall of Babylon. So the Middle Chronology dates that event to 1595 BCE, while the High Chronology uses 1651 and the Ultra-Low uses 1499. That is one of the reasons that the Ultra-Low version has largely been dismissed, as such a late date begins to conflict with other documented events from outside of Babylonia. However, you may have noticed that the High Chronology only differs from the Middle Chronology by 56 years.

In the conventional Middle Chronology dating system, Sargon of Akkad reigned from 2334-2279 BCE, thus even the high-end of Near Eastern chronologies only bumps that up to 2390-2335. That's still 200 years after Khufu's time, so no dice on the original scenario. Depending on which Near Eastern chronology you accept, Sargon could overlap with any of the late Old Kingdom Pharaohs from Djekare of the 5th Dynasty (c.2400-2360), down to Netjerkare (2184-2181). Following the Middle Chronology, Sargon would primarily overlap with Pharaoh Pepi I.

Regardless of chronology, there is nothing to suggest that any of these Pharaohs ever left Egypt or that Sargon ever went there. Egypt did maintain political and economic influence with the Levant all through this time, with Pepi I in particular dispatching an invasion of southern Canaan commanded by a subordinate. It may have gone as far north as Mt. Caramel, though we don't know when that occurred. It does create an interesting moment of near overlap between this Egyptian army in the northern parts of modern Israel, and Sargon's expedition to Ebla and the western mountains of modern Syria, but there is no documented contact between the two powers.