As such there is no option in Sqoop to create and use for file format on Hive. For this you would need to have a table created with ORC format and then use the sqoop command to import/load the data into hive.
HCatalog Table Requirements
The HCatalog table should be created before using it as part of a Sqoop job if the default table creation options (with optional storage stanza) are not sufficient. All storage formats supported by HCatalog can be used with the creation of the HCatalog tables. This makes this feature readily adopt new storage formats that come into the Hive project, such as ORC files.