Way to defy stereotype, gamers 
I’m sure some studio right now has Top Men working on that (with collaboration from Studio Gainax in Japan).
(and of course it will be men)
But can we get to John Holmes territory.
Still do.
The OP is difficult to answer because, on the one hand, yes, it’s possible to ask for physical customization without being a pervert/misogynist. On the other hand, the OP is suggesting that “big” isn’t currently an option when many characters are already proportionally closer to a Barbie doll than a real woman. On the gripping hand, that’s not necessarily perverse/misogynistic but it’s certainly suggestive.
Final Fantasy XIV definitely has “jiggle physics,” particularly noticeable on some of the dance emotes. 
I think it was the “Dead or Alive” series that specifically had an “elasticity” setting.
And it was an OVA, not a video game, but ADV’s release of Plastic Little on DVD famously had a “Jiggle Counter”. Yes, it was exactly what it sounds like, made even worse (better?) by the counter being a set of boobs with a number inside.