It's never too late, of course. I think there is a naïveté to one's art when younger that can be refreshing if it's music, perhaps less so if it's prose.
To be sure, the short stories and such I wrote in my early 20's are embarrassing to me now.
Pynchon was a young published writer when he wrote the story "Entropy" — I believe it was later embarrassing to him (and well it should be).
Since I was raised by a single mother (working as a secretary) I took financial responsibility very seriously — such that, while I had an artistic bent, I did not waste my money paying for college to pursue a degree as impractical as art. I don't think though that, like you, that I have had many second thoughts about the path I took. I know I would have done the same thing given another chance.
On the other hand I have since raised three kids and encouraged all of them in creative expression. I made it clear as they grew up that college was going to be a free ride for them — they should pursue whatever degree that speaks to them. (My first daughter majored in Fine Art — is busy getting her tattoo license).
I kind of feel like I got a second chance through them. Or a chance to see what-could-have-been. They're fortunate. I and perhaps you were not.
My regret is watching so much crap on cable TV before starting a family (cut the cord when the first was born, never looked back). Got a lot of free time back to pursue more artistic interests. :-)