Business & farm
I believe that the deferred compensation is treated as wages by the IRS in regards to the QBI and therefore your Schedule C income would not be eligible for the QBI deduction.
You would need to select "No" to it being a "Qualified Business".
According to the IRS:
"Section 199A(b)(4)(A) provides that the term W-2 wages means with respect to any person for any taxable year of such person, the amounts described in section 6051(a)(3) and (8) paid by such person with respect to employment of employees by such person during the calendar year ending during such taxable year. Thus, the term W-2 wages includes the total amount of wages as defined in section 3401(a) plus the total amount of elective deferrals (within the meaning of section 402(g)(3)), the compensation deferred under section 457, and the amount of designated Roth contributions (as defined in section 402A)."
