LJ-70 Captain reported a fume event during takeoff accompanied by a Cabin Duct Overheat CAS message. Flight crew executed a safe air return.

Narrative

During takeoff from ZZZ we observed air noise and an odor coming from the cabin. The FO (First Officer) said it smelled hot while for me it smell like bleed air. We were at v1 so we continued. After takeoff the cabin duct overheat CAS appeared. We were cleared to 4000 ft; but requested to level at 3000 ft to sort things out. We were VMC so we told the Controller we needed to return and had the airport in sight. We were cleared for the visual and told to contact the Tower.The CAS light disappeared after turning the cabin temp knob to full cold and reducing power. We decided to burn fuel off instead of an overweight landing. We coordinated with the Tower to circle north of the airport. While circling we maintained 250 ias to burn down fuel quicker in case we had to land immediately.After slowing for landing we found that at 185 kts with the gear and flaps down could have burned fuel off just as quick as 250 with the boards out. That would have been an option to stay below 200 in the class D.