Yes, using a VPN allows you to fake a location on an Apple TV. That’s because connecting to a server changes your IP address, making it appear as if you’re accessing Apple TV from elsewhere. Aside from using a VPN, you can use a DNS proxy or Smart DNS to fake your location on Apple TV. While this also allows you to access geo-restricted content, it doesn’t provide the same security benefits of a VPN service (such as encryption of internet traffic).