Do it immediately after select the first stage.
*Note:
The third code has a little glitch. After holding reload button, both player will be Smarty. After selecting the second stage, P1 will be Janet, but P2 still Smarty ^_^

Go to yor Virtua Cop 2 directory. Open the file VCOP2.INI and find the [GameSetting] line. You may need to go to the start menu > find > files or folders and search for VCOP2.INI. Double click on the file and find the game setting line. When you find it, add a line like this:

Extra=2
It will then look like this:

''[GameSetting]Extra=2''
Close and save the file. Start the game, go to Mode Settings (F6) and you will see two new options ''Special'' and ''Cheat''. Now you can use these options:

Special Menu:
-Single Click Reload: Reload with a single click of the mouse.
-Random Mode: Opponents come out in random formation.
-Mirror Mode: The game screen appears as a mirror image of the original.
-Big Head Mode: Characters appear with humorously enlarged heads.

Cheat Menu:
-Auto Reload: Weapons automatically reload when you use all the ammo.
-Weapon Select: Allows you to choose any of the special weapons during gameplay.
-Weapon Select (Special): A special version of the Weapon Select option.

Fight End Boss:
At the stage select screen, rapidly fire at the little arrow pointing at the first stage until time runs out.