Yep, you can get a super powerful unit in a small space these days
Mine is a 16-core Ryzen 5950X in a Cooler Master NR200P, so not quite as compact as Adam's unit (still mini-ITX though), but it sits behind the monitor and I don't see it. With the water cooler I added, I also don't hear it much, which was my primary consideration.
I'd suggest you consider your datasets though to determine how much oomph you really need. If you're processing hundreds and hundreds of high megapixel images, then memory will be more likely to be a limiting factor than the CPU. I use Linux on my machine, as that is PixInsight's primary development platform, with 64GB RAM and a healthy swap partition on PCIe 4.0 NVMe SSD and it flies!