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If you want to change or limit the file size of the image then the answer is yes. Please check this guide on How to Change the Upload Size Limit.
You can do that by selecting the upload field then click "Properties"
After that you need to select "Max File Size" then put the appropriate value and then press the "OK" button.
But if you are pertaining on auto-resizing the image size or resolution then unfortunately the answer is no. We don't have that feature.
Hope this helps. Let us know if you have other issues.