ORA-14224 Deferred Segment Creation is not supported for this schema
Sure, do not use SYS for such operations.

SQL&gt; show parameter deferred

NAME                                 TYPE        VALUE
------------------------------------ ----------- ------------------------------
deferred_segment_creation            boolean     TRUE

SQL&gt; conn bp/bp
Connected.

SQL&gt; CREATE TABLE NEWTABLE3 (n1 number) SEGMENT CREATION DEFERRED;

Table created.

SQL&gt; conn / as sysdba
Connected.
SQL&gt; CREATE TABLE NEWTABLE3 (n1 number) SEGMENT CREATION DEFERRED;
CREATE TABLE NEWTABLE3 (n1 number) SEGMENT CREATION DEFERRED
*
ERROR at line 1:
ORA-14224: Deferred segment creation is not supported for this schema


Restrictions on Deferred Segment Creation


  This clause is subject to the following restrictions:
  
  
  You cannot defer segment creation for the following types of tables: clustered tables, global temporary tables, session-specific temporary
  tables, internal tables, external tables, and tables owned by SYS,
  SYSTEM, PUBLIC, OUTLN, or XDB.
  Deferred segment creation is not supported in dictionary-managed tablespaces.
  Deferred segment creation is not supported in the SYSTEM tablespace.
  Serializable transactions do not work with deferred segment creation. Trying to insert data into an empty table with no segment
  created causes an error.