sqrt() is expensive, so make sure you really need it, or - as Jonas pointed out - if you could instead threshold against the square of the radius
depending on your data, use the knowledge about the symmetry of the norm to reduce the number of sqrt calculations
precalculate the squares before generating the meshgrid
something like (untested):
x = linspace(-5, 5, 100);
y = linspace(-5, 5, 100);
z = linspace(-5, 5, 100);
[xp2, yp2, zp2] = meshgrid(x(1:end/2).^2, y(1:end/2).^2, z(1:end/2).^2);
norm_quadrant = sqrt(xp2 + yp2 + zp2);
norm_temp1 = cat(1, norm_quadrant, flipdim(norm_quadrant, 1));
norm_temp2 = cat(2, norm_temp1, flipdim(norm_temp1, 2));
norm_complete = cat(3, norm_temp2, flipdim(norm_temp2, 3));