Yes, there is an option to generate a compressed SOF in Intel® Quartus® Prime Pro Edition Software starting from version 20.3 and above for Intel® Stratix® 10 and Intel® Agilex™ devices.
This option just reduces the size of the SOF file, and is off by default. The raw bitstream for Intel® Stratix® 10 and Intel® Agilex™ devices are always compressed irrespective of this option.
To enable the “Generate Compressed SOF” option, go to the General Tab under Device and Pin Options setting in the Intel Quartus Prime Pro Edition Software.
The information is scheduled to be included in future releases of the Intel® Agilex™ Configuration User Guide and Intel® Stratix® 10 Configuration User Guide.