Yup, I've worn various length and snugness (?) compression hose for bike rides and even all-day use when my legs are bothering me. Subjectively, yeah, they seem to help. By "help" I mean "feels good."

People differ over whether it translates to improved performance. I can't say I've been consistently faster or stronger with compression hose. But it "feels good," and for me that makes it worthwhile on some longer rides.

Same with shorts and bibs. I can wear medium or small in most shorts and bibs and usually prefer the compression of the small, although they tend to run shorter in the leg length, about midway between my knee and hip rather than closer to the knee according to current trends. My shorts and bibs lengths tend to fit like 1960s-'70s cycling shorts. Subjectively, the compression seems to help my thighs on harder workout rides -- less muscle burning, fewer cramps.

My only problem with compression is my little toes are extremely sensitive to loss of circulation from pressure on the tops of my feet from socks or shoes that are too tight. So I have to be sure the socks, shoes and insoles/inserts are compatible. Usually I find out about 30 minutes into a ride when my little toes start stinging, then get numb.