What function of G do you have in mind? The following works with immediate assignment, but it won't speed up calculations, I am afraid:
f[u_?VectorQ, v_?VectorQ] = u.v
Using vector notation you may write your function a little more elegantly
c02[g_?VectorQ, \[Theta]0_, \[CapitalPhi]0_, Q_] :=
Normal@SeriesCoefficient[
Sqrt[g.g -
2 Q Sin[\[Theta]] g.{Cos[\[Phi]],
Sin[\[Phi]]}], {\[Theta], \[Theta]0, 0}, {\[Phi], \[Phi]0, 0}]
but it only makes sense for a 2-dimensional g, and it only works with delayed assignment.
Also, I think SeriesCoefficient does not need Normal.