Does active choice reactive parameter support hide fields option?
No, this is not possible, because the number and type of parameters for a build are fixed and cannot be modified on-the-fly.  The only way to modify which parameters show up in the "build with parameters" UI is to change the job configuration, which alters the parameters permanently.

In my opinion, if you need to do several different tasks which require several different input parameters (such as "build", "test", "install", "deploy", etc.), you should have separate jobs in Jenkins for each task.  I personally think it is a good ideal in general to avoid complex Jenkins jobs which require a lot of input parameters and try instead to simplify job configuration in order to reduce the likelihood of subtle, difficult-to-debug errors when executing jobs.