'Compiling' into byte code is easily reversible using pip packages like uncompyle2. Various pip packages offer code obfuscation but from my tests cause problems when running the code. Encrypted bytecode seems to always be decryptable due to the very nature of having an interpreter. Moving Python code into modules implemented in C somewhat works but is time consuming and makes me consider just rewriting everything in C/C++ :(
I would be curious to know how other folks hide/protect Python code? I see this issue as a major barrier to getting Python adopted in paranoid tech companies!