It sounds like you may be buying an air compressor. If so:
Yes. Compressors are rated at a Flow and a Pressure. Yes they will deliver higher flows with lower discharge pressures. How much more depends on the design and or type of compressor.
I prefer to preface flow units with FAD (Free air delivery) rather than SCFM, CFM, ICFM, etc. One cubic foot of free air at atmospheric conditions is pulled into the compressor, compressed to 100 PSI and delivered out the machine, to the pipe, in one minute would define a machine rated for 1 CFM FAD @ 100 PSI.
Compressor manufacturers, or their marketing departments, use the ICFM, CFM, SCFM terminologies to confuse buyers. Period. There is no standard for what ICFM, SCFM, CFM means across the various vendors. Some say ICFM is the inlet to compression chamber, neglecting inlet filter. Some say it includes the inlet filter. Some say CFM is from inlet filter to aftercooler. Some say SCFM is inlet filter to separator and some say this is ICFM. Blah blah blah blah blah. It is all smoke and mirrors.
Make the vendor show you FAD at a defined pressure, with defined atmospheric conditions (Temp, Relative Humidity) and make sure it includes ALL the components you intend to buy (inlet filter, oil separator, separator element, aftercooler, afterfilter, etc, etc, etc). This is the only way to compare two machines apples to apples. Some manufacturers are famous for showing horsepower at a point (defined by FAD and pressure) and comparing it to a competitor. However they will neglect to tell the customer that their data doesn't include pressure/flow drops through various components standard on the package.