I don't know about the Suunto, but the Oceanic OC1 doesn't have a setting but does in fact do it automatically, but only after an altitude of 3001' has been reached.
ALTITUDE SENSING AND ADJUSTMENT
Prior to the first dive of a series of repetitive dives, Altitude (i.e., ambient pressure) is measured upon activation of Dive
Surface Mode and every 15 minutes
until a dive is made or operation reverts to Watch Mode.
> While it is operating in Watch modes after a dive, measurements are taken every 15 minutes during the 24 hour period after surfacing.
> Measurements are only taken when the unit is dry.
> Two readings are taken, the second reading 5 seconds after the first. The readings must be within 1 foot (30 cm) of each other to record that ambient
pressure as the current Altitude.
> No adjustments are made during any time that the Wet Contacts are bridged.
When diving in high altitude waters from 3,001 to 14,000 feet (916 to 4,270 meters), the OC1 automatically adjusts to these conditions providing cor
-
rected Depth, and reduced No Deco and O2 Times at intervals of 1,000 feet (305 meters).
At an elevation of 3,001 feet (916 meters), Depth calibration automatically changes from feet of seawater to feet of fresh water
. This is the first adjustment
to the algorithm.
When the Conservative Factor feature is set On, NDLs are calculated based upon the next higher 3,000 foot (915 meter) Altitude. All adjustments for
Altitudes greater than 11,000 feet (3,355 meters) are then made to allowable dive times for 14,000 feet (4,270 meters). At Sea Level, calculations are
based upon an Altitude of 6,000 feet.
The OC1 will not function as a Dive Computer above 14,000 feet (4,270 meters).