Not yet. You can download and store audio file assets, but you can’t load/play audio files arbitrarily. There’s already a request for this DEF-1967
Defold doesn’t do any special modifications to audio files, there is no processing to them when bundling so that is not an issue.
The way audio works right now is that you associate audio files to sound objects, and then you can have these in your main collection and be loaded as your game first loads, or put them into collections loaded by collection proxies so that they can be loaded async whenever you need those audio files.