MicroStation VBA relies on the VBA development kit that licenses the product from Microsoft. The VBA core does not provide what you want, and that situation is unlikely to change (Microsoft would like to dump VBA).
To do what you want, select each of your modules in your VBA projects. Export the module to a text file.
Create a new, empty, VBA project. Import each of the text files you just saved. Now you have a new VBA project, with the same functionality as the original, but without any air in it.
Search the web for similar questions and answers about VBA.
MVBA is not Microsoft format it is Bentley format. No such issue using Office VBA where macros are embedded in DOCx/XLSx.
Alternative is to use this utility to compact MVBA but it is not specific for MVBA files so may cause issues.
https://github.com/otofoto/unfrag/releases
MicroStation VBA relies on the VBA development kit that licenses the product from Microsoft. The VBA core does not provide what you want, and that situation is unlikely to change (Microsoft would like to dump VBA).
To do what you want, select each of your modules in your VBA projects. Export the module to a text file.
Create a new, empty, VBA project. Import each of the text files you just saved. Now you have a new VBA project, with the same functionality as the original, but without any air in it.
Search the web for similar questions and answers about VBA.