If you have a wide table and/or a relatively narrow set of fields which are accessed much more frequently than others, it makes sense to separate those fields from the rest. However, instead of normalizing them to their own table, consider creating a subtable within the existing table. That is, create a covering index.
select a, b, c
from table
where c, d, e;
In this simple case, you could create an index on a, b, c, d, e. The query may be completed by accessing only the index. The same with Updates:
update table
set d = 'something'
where a, b, e;
As long as only the fields defined in the index are called out, only the index will need to be used.
But never assume anything. Develop timing tests so you can make meaningful comparisons before and after. Develop regression tests so that you can see if it does speed up the operations you want that it doesn't do so by unduly slowing down other important operations.
Here's another twist to consider. Take the query above. Suppose many thousands or millions of rows must be examined (where clause) in order to find a very few results. Would it then be better to create two covering indexes -- one for the selection list and one for the where clause? And if it is better (faster) then should field c be defined in the selection index and the where index or just in the where index?
I don't know the answers to those questions. You'll have to test.
UPDATE:
If I understand the comment, you have a lot of queries for some fields and updates for other fields and you don't want them to interfere with each other since they use different sets of fields. You can already "isolate" the queries from updates. Just query under "no lock" conditions.
In MySQL, the procedure is (Note: this is for InnoDB only. Refer to the docs for other engines):
set session transaction isolation level read uncommitted;
query1...
query2...
query3...
set session transaction isolation level repeatable read;
or simply
set transaction isolation level read uncommitted;
query1...
query2...
query3...
commit;
You still may want to look at covering indexes for the queries and/or updates, but now that is a separate issue.