@taylorlorenz it is on the roadmap for #Mastodon but if this feature is needed now, I really recommend you to check out instances running on #Akkoma & #CalcKey, both offer #quoteposts out of the box. It also has other features that Mastodon is missing like text formatting, threaded comments & more!
As they're both #ActivityPub implementations, you won't lose the ability to communicate with your current follows & followers.