No. The SEP does not come off your schedule C profit so you still pay the 15.3% SE tax on it. It is an adjustment to regular income on Schedule1 line 16 which goes to 1040 line 10.
What is a SEP IRA
https://ttlc.intuit.com/community/retirement/help/what-is-a-simplified-employee-pension-sep/00/26986
How to enter SEP IRA
https://ttlc.intuit.com/community/retirement/help/where-do-i-enter-my-sep-ira-contributions/00/26783
