Yes, some compact cameras have supported tethered control from a computer, but it has been relatively uncommon.

From the answers here, older Canon point-and-shoot models offered remote operation over USB, and Canon appears to have dropped that feature after the G10. Some older Kodak compact cameras also supported tethering through their software.

If your main goal is timelapse rather than full live tethered control, there are practical alternatives:

• CHDK firmware on some Canon compact cameras can add scripting features that may be useful for interval shooting.
• Any camera with an external shutter-release connection may be triggered remotely using external electronics or a computer-controlled interface.

So, the short answer is: yes, tetherable compact cameras have existed, but support is limited and model-specific. If you need this feature, verify it for the exact camera before buying. If timelapse is the priority, a compact that supports CHDK or external shutter triggering may be a more realistic option than full PC tethering.