find $RPM_BUILD_ROOT/lib/modules/ -type f -name '*.ko' | xargs xz

The quick check confirms that xz runs single-threaded [even with -T0].

A shell script can implement parallelism for cases such as this.

A similar task scheme appears in dracut.  At one time [~2014] these files:
   90kernel-modules/module-setup.sh
   40network/module-setup.sh
contained code that I wrote:

            # Use two parallel streams to filter alternating modules.
            local merge side2
            ( ( local _f1 _f2
                while  read _f1; do   echo "$_f1"
                    if read _f2; then echo "$_f2" 1>&${side2}; fi
                done \
                | bmf1     1>&${merge}    ) {side2}>&1 \
                | bmf1  )      {merge}>&1

/bin/bash has some extended features which facilitate allocating
and using the file descriptors; see "REDIRECTION" in $(man bash).
For other shells: hard-wire the fd to fixed integers, document it,
and prevent collisions "manually".

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