Yes, Google recommends a high-quality image, but not a slow-loading one, so use a quality compress image.
2 - Customize Image Filename
It's better to give your image file a name. Xyz.png is not a good name Google_new_Logo.png sound good and informative.
3 - Write SEO friendly Alt Tags
With slow internet most of the time you only see the alt tag. You don't want your users to see default alt like 12345.jpg. So, add an alt today and explain the image to the users.
4 - Make Images Mobile Friendly
Most of the users come from mobile as we all know. Having a mobile-friendly image is important.
Ensure that On-Page SEO elements (metadata, structured data) coordinate with your images.