No, Quartus® II software does not allow SVF generation, it only allows a program or verify operation.
To create an SVF for a single device erasure perform the following steps.
1) Create a dummy project in Quartus II software.
2) Choose your target device -> e.g. EPM1270F256C5N.
3) Under Device & Pin Options, Programming Files, turn on the Serial Vector File Format option.
4) Compile your dummy project.
5) Open the *.svf file in a text editor.
6) Delete the section where it starts from !PROGRAM. Everything including this line needs to be deleted until the end of the file where you get to a function called STATE IDLE; - this line needs to be preserved.
The resulting SVF will now erase the device.