It works over an arbitrary nondiscrete normed field $K$ and without assuming non-degeneracy (excluding the case when the space is 1-dimensional and the form zero).
If $q$ is an isotropic quadratic form on a finite-dimensional vector space over $K$, then $\mathrm{SO}(q)$ is unbounded (and hence noncompact), except if the dimension is $1$ and the form $0$.
The easy argument was already given in characteristic $\neq 2$:
a) if the form is degenerate, choose $x$ in the kernel. Then since one excludes the 1-dimensional case, there is a linear map $f$ whose image is $Kx$ and vanishing on $Kx$. Then $\mathrm{Id}+\lambda f$ is in the special orthogonal group for every $\lambda\in K$, which is therefore not compact.
b) if the form is nondegenerate, choose $x\neq 0$ with $B(x,x)=0$. Choose $y_0$ with $B(x,y_0)\neq 0$. Then find $y$ of the form $y_0+\lambda x$ with $B(y,y)=0$. So $B(x,x)=B(y,y)=0$ and $B(x,y)\neq 0$. Since $(x,y)$ generates a nondegenerate plane its orthogonal is a complement. Then for every $t\in K^*$, the diagonal map $x\mapsto tx$, $y\mapsto t^{-1}y$, identity on the orthogonal, is in the special orthogonal group, which is therefore unbounded.
As mentioned by @LSpice one needs to reformulate the proof to allow characteristic 2.
Here we have a quadratic form $q$ (i.e. $q(\lambda x)=\lambda^2q(x)$ for all $x$ and $b_q(x,y)=q(x+y)-q(x)-q(y)$ is bilinear), whose kernel is by definition $\{x:\forall y:q(y+x)=q(y)\}$. Isotropic means that $q^{-1}(\{0\})$ is not reduced to zero.
(a) adapts in a straightforward way. For (b) one chooses $x\neq 0$ with $q(x)= 0$. Then one chooses $y_0$ such that $q(y_0+x)\neq q(y_0)$. Then $q(y_0+tx)$ is affine in $t$ and nonconstant, hence vanishes hence one can find $y$ such that $q(y)=0$ and such that $q(x+y)\neq 0$ (observe that on the plane $Kx+Ky$, $q$ vanishes exactly on $Kx\cup Ky$).
The orthogonal $H_x$ of $x$ (resp. $H_y$ of $y$) for $b_q$ is a hyperplane meeting $Kx+Ky$ in $Kx$ (resp. $Ky$), hence their intersection $H= H_x\cap H_y$ has codimension 2 and is a complement subspace to $Kx+Ky$. Then for $t\in K^*$, the endomorphism $x\mapsto tx$, $y\mapsto t^{-1}y$, identity on $H$, is in the special orthogonal group, which is therefore unbounded.
Note that the argument consists in finding a copy of the additive group in case (a) and of the multiplicative group in case (b).
It seems that in general:
there's no copy of the additive group exactly when either the form is anisotropic, or the form is nondegenerate in dimension $\le 2$, or the form is zero in dimension 1.
there's no copy of the multiplicative group exactly when the kernel has dimension $\le 1$ and the form is anisotropic modulo the kernel.