Starting with Solaris 2.6, this can be achieved with the following entry in /etc/system:
set hires_tick = 1
This will set the system hz value to 1000.
In principle, you can also set "hz" directly, but that is not supported nor recommended:
* Get 0.1 ms clock resolution/timer granularity set hz = 10000
Solaris 8 introduces the cyclic subsystem; this allows for timers of much better granularity without burdening the system with a high interrupt rate. High resolution timers are available to root only using timer_create(3rt) with a clock_id of CLOCK_HIGHRES.