No, Zoom does not have a direct setting to choose a specific recording quality or resolution (e.g., Low, Medium, High) prior to a meeting.
However, you can use the following settings and workarounds before your meeting to ensure the smallest possible recording file size:
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Disable HD Video: Go to Settings > Video and uncheck HD. This lowers the baseline resolution of your camera feed.
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Uncheck Video Editor Optimization: Go to Settings > Recording and ensure Optimize for 3rd party video editor is turned off. Leaving this on significantly increases file sizes.
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Shrink the Zoom Window (Local Recordings): If you are recording locally to your computer, Zoom captures the exact dimensions of the meeting window. Making the Zoom window physically smaller on your screen will reduce the video resolution and the resulting file size.
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Record Active Speaker Only (Cloud Recordings): If recording to the cloud, go to your web portal recording settings and choose to record only the active speaker, as recording Gallery View or multiple separate streams uses more storage.
You’re also, of course, free to download the file(s) and re-encode the files to take up less space using FFMPEG, Handbrake, etc