My unscientific opinion is that something similar probably happens to liquids. As we certainly can see sound and pressure waves transmitted though liquids, they must be compressible. I would presume that it happens, but at a far reduced scale. At least it would happen if we could get the liquid moving that fast. Practically in pipe flow I don't think it happens, certainly not often, but I suppose somebody can do it if they have enough power available.
Practically speaking maximum liquid flow through an orifice, or valve, becomes limited when the downstream pressure equals the liquid's vapour pressure. Any extra space around the vena contracta that would normally fill with more liquid becomes instead filled with vaporizing fluid, effectively limiting the flow from increasing any further. As long as downstream pressure is not increased, increasing the upstream pressure would not produce more flow.