I use Smart Objects quite a lot in my work. So to make them easier to create and edit, I created a few shortcuts.
Go to Edit > Keyboard Shortcuts
Under Layer > Smart Objects set these shortcuts
This is what I set.
Create Smart Object ⌘ ⇧ O
Edit Smart Object ⌘ ⇧ E
They will likely conflict with existing shortcuts, which I didn’t use. You should obviously select shortcuts that don’t conflict with other shortcuts you don’t use.