I tried a few times as some BIOS have a hidden or disabled setting but I never got past a plain crash. Device and CPU vendor support for classic S3 is shrinking. E.g. on framework laptops the Intel CPU(!) does not officially support S3 sleep.

So I can understand that there is no option for it if all you can get is out of spec behavior and crashes.

Also note that it is incompatible with some secure boot and system integrity settings.