I can confirm this entirely. At 20 years old I was a free diver and I passed out twice after eccessive hypervenyilation...Do not hyperventilate to increase breath hold when freediving. This technique kills children and untrained freedivers every year. Freedivers do not hyperventilate, they do some other breathing techniques that might look similar.
The reason not to hyperventilate is that your body judges the need to breathe based on CO2 buildup in the blood, NOT the level of oxygen reaching your brain. Hyperventilating can reduce the CO2 level to a point that you won't know how badly you need air until you pass out. Passing out in water = not good.
I strongly recommend you take a basic freediving class with a good instructor to learn about safety issues like this, and massively improve your technique/ breath hold time. I had been freediving quite seriously for over 20 years before getting any formal training, and a basic class taught me a LOT of things that I didn't know I didn't know.
As for increasing breath hold time, it's down to practice. Practice on dry land in a place where you won't be hurt if you pass out. When you're training in water HAVE AN ATTENTIVE BUDDY. Just practice increasing your hold time with a timer, look up how to do "freedive tables" (a training method), or get the "STAmina" app which helps you do tables.
Both times I was saved, but this was enough for ending my free diver career