Commands are ran from a liveUSB
Use compression over the network, but extract on target
sudo dd if=/dev/nvme0n1 bs=256M status=progress | pigz -c -p 4 | ssh [user]@[host] "gunzip -c > /mnt/disks/dev-nvme0n1.img"
sudo dd if=/dev/nvme0n1 bs=256M status=progress | pigz -c -p 4 | ssh [user]@[host] "cat > /mnt/disks/dev-nvme0n1.img.gz"
$ qemu-img convert -f raw -O qcow2 /mnt/disks/dev-nvme0n1.img /mnt/disks/dev-nvme0n1.qcow2