yes, image file compression works different based on the image size (resolution). It works on a (somewhat) logarithmic scale. Meaning if you take a really low res image (320x240) and reduce the size by 20%, it will look like garbage. Maybe even unusable. If you reduce a 3840x2160 image by 20%, it may not even be noticeable. In general the more pixels you have to work with, the more optimization you can do before the human eye notices it. In most cases.

