There should be no difference in PowerShell versions -- except version 5 was the last version of WINDOWS PowerShell. Version 6 and 7 are "cross-platform" and have no dependencies on Windows -- they are also somewhat more difficult to use if you depend on the ability of your scripts to work without modifications because you may have to use Windows Compatibility Mode when loading modules (https://learn.microsoft.com/en-us/powershell/module/microsoft.powershell.core/about/about_windows_powershell_compatibility?view=powershell-7.4).
I don't know if there are any limitations on the number LDAP queries. I've never run into any, though. The largest AD organization I worked with had about 28K "real" users, but they were spread out over the USA, Canada, Mexico, Brazil, Colombia, South Africa, Italy, Spain, France, Portugal, Germany, Belgium, The Netherlands, England, Australia, Japan, and probably a few places I've forgotten. The AD was geographically distributed so there wasn't usually a problem, and where there were concentrations of users there were also multiple DCs and AD sites.
The biggest benefit you'll derive from using ADSI over Modules it the time it takes to load a module. If you have to load a module it might take 300 - 500 ms, and then the time it takes to make the query. With ADSI you only spend the time to make the query (maybe a few tens of ms).
According to the link in your comment, ServiceNow's using ADWS. IIRC, ADWS (as installed, unmodified) has a limit of 10 concurrent connections. I'm pretty sure that's "per DC" but, depending on how ServicNows' connector works, they may be using only one (or a few) of the DCs in you AD site. If you're not sure how it's working, I think engaging ServiceNow would be appropriate.