Can my 10mm Overbite Be Improved by Interproximal Reduction or Would Corrective Jaw Surgery Be a Better Option? (photo)

Those are two very different options. If your jaw is really underdeveloped only surgery will be able to correct that.  Interproximal reduction will make very minor changes, not enough to make a difference. You can also consider extracting some teeth on the upper to bring the front teeth back.

Your upper jaw is underdeveloped (that is why your lower jaw is too far back). You first need to develop your upper jaw which can be done with a simple appliance; NO surgery is required. After your upper jaw is developed you can then bring your lower jaw forward; again, with a simple appliance, NOT surgery. 

Some believe jaw development in adults is not possible; which is odd given that I do it in my practice EVERY SINGLE DAY. I can send you plenty of information if you're interested. 

PLEASE do NOT extract upper teeth and retract your upper teeth to match your lower teeth; you will be extremely unhappy with the results because your smile will be narrow, your nose will get bigger, your upper lip will get smaller and your TMJ and airway could both be extremely compromised.

Good luck!