Compression applied to Player data (scenes and resources).
None - no or default platform compression.
LZ4 - fast compression suitable for Development Builds.
LZ4HC - higher compression rate variance of LZ4, causes longer build times. Works best for Release Builds.
On Android default compression is ZIP. It compresses generally slightly better than LZ4HC, but has slower decompression speed.
I would recommend to use LZ4HC for release build to have better loading performance. And LZ4 during development as it generally compresses build faster.