Not really. The prime form from (C, E, G, Bb) is (0258).
The algorithm is:
1)Find the normal order of this set
Simple: find the permutation which is most compact (smaller interval from lower to higher note). This results in 1st inversion, (E, G, Bb, C) or [47A0].
2)Find the prime form
First transpose the normal order so the first note is C, or 0. Here, is a T8 operation, (C, Eb, Gb, Ab) or [0368]. Comparing this set transposed normal order to its inversion normal order (when it exists), the prime form is which has the smaller interval in order.
Inverting our set we find (C, D, F, Ab), or [0258]. This is a simple modular operation, just mod12 each pitch class. (12-0,12-3,12-6,12-8) = {0,9,6,4}, which has normal form [4690]. Applying a T8 to transpose to C, we find [0258].
Comparing [0368] and [0258], the second set is our prime form since first interval is smaller (0-2 is a major 2nd while 0-3 is a minor 3rd). So, (0258), or (C, D, F, Ab) is our prime form for this set.
Why doing this? Because pitch class sets relate to others by their internal intervals sonorities, which we label as interval vector. It functions as a fingerprint to sets. To group similar sets (but with different pitch classes), we group by interval vectors and form classes to unify. This is what Forte called “pitch class set classes”. The prime form represents its whole set class, which may have up to 24 different normal orders within (12 Transpositions plus 12 Inversions or Transposed Invertions). Some sets have special features of symmetry which result in fewer normal orders within. But usually, one prime form relates to 24 normal orders.