There is no compression estimation tool for z/VM or VSE. If you expect that the data is encrypted then you should probably be considering that there will not be any significant compression.
If the client is using any other compression mechanisms for backup then you could look at how this behaves to see if there might be some potential.
You might want to raise an IDEA for z/VM to see if they might consider some tooling or talk to 21st Century about VSE.