Edit: Now is considered OP comments. Added is solution which use LuaLaTeX engine for compiling MWE. It enables to hyphenate also the first word in cell's content.
Use of the siunitx package for S columns can be simple as you use in your MWE: just S without any options anticipate writing a simple numbers with default number of integer and decimal digits in number. However package is much more powerful. It enable to specify (as options) number of integers and decimals: table-format=<number of integer digits>.<number of decimal digits> (an elementary option), numbers rounding, adding symbols, etc. For details see package documentation. It is illustrated with many examples.
Use of \multirow{2}{=}{...} is right way, however you MWE compiling by pdfLaTeX doesn't support hyphenation of the first word in cells' text. Problem you can solve on two ways:
- by inserting of hyphenation points
\- in words as is done in in the following MWE:
\documentclass[margin=2mm]{standalone}
\usepackage{booktabs, multirow}
\usepackage{siunitx}
\begin{document}
\begin{tabular}{ p{19mm} l S[table-format=1.3] S[table-format=3.2] }
\toprule
& a & {x} & {y} \ \midrule
\multirow{2}{=}{entdimen-sionalisiert}
& abc & 0,00 & 20,95 \
& def & 0,004 & 0,7 \ \midrule
\multirow{2}{=}{normalisiert}
& abc & 0,00& 20,95 \
& def & 1,00 & 175,00 \ \bottomrule
\end{tabular}
\end{document}

- or by adding package
babel to the MWE and than compile by LuaLaTeX:
\documentclass[margin=2mm]{standalone}
\usepackage[ngerman]{babel} % <---
\usepackage{booktabs, multirow}
\usepackage{siunitx}
\begin{document}
\begin{tabular}{ p{17mm} l S[table-format=1.3] S[table-format=3.2] }
\toprule
& a & {x} & {y} \ \midrule
\multirow{2}{=}{entdimensionalisiert}
& abc & 0,00 & 20,95 \
& def & 0,004 & 0,7 \ \midrule
\multirow{2}{=}{normalisiert}
& abc & 0,00& 20,95 \
& def & 1,00 & 175,00 \ \bottomrule
\end{tabular}
\end{document}

\hspace*{0pt}to allow hyphenation. – David Carlisle Dec 31 '21 at 16:23