This mode has been added in LSWS 4.2 with PHP suEXEC daemon mode.
http://blog.litespeedtech.com/2012/09/11/lsws-4-2-introduces-php-suexec-daemon-mode/
Once enabled PHP suEXEC daemon mode, you can change "Enable LVE" configuration to "CageFS without suEXEC". If cagefs is disabled for that user...