I don't think you could reduce the amount of random bits (I guess there are some non-random parts in standard UUIDs but not a significant amount) while preserving that property unless you add back some other form of synchronization to ensure that there aren't collisions which seems like it would defeat the purpose.
In theory it's definitely possible. The 128 bits you get in a UUID is a LOT of randomness for an identifier. Postgres BIGINTs are just 64 bits. Instagram's sharded IDs are just 64 bits. (See below.)
You can test it. If you're using uuidv4 (which is 100% random bits, minus a few for the version), you could make a new column in your table in Snowflake, populate it with the first 64 random bits of your existing uuid column, then see if you have any collisions.
https://instagram-engineering.com/sharding-ids-at-instagram-...