Yes. Canvas gives you several options for creating quizzes with different point values that do not rely upon the number of questions for that quiz.
The way that provides you the most options for doing this is to, first, put your questions for your quiz into a Question Bank.You can then import these questions into your quiz using Question Groups with variable point values - you can even use decimal values. You can even extract questions using different point values into the same quiz - for instance, some worth one point each and some worth 2 points each and so forth. You could have 100's of question in a question bank and have Canvas extract 10 questions randomly assuring that each student gets different quiz.The quiz does not rely upon the quantity of questions to determine the overall value of the quiz.