IIS has a setting to limit the number of failed request tracing log files, but not the primary HTTP request log files.
A simple solution as that link indicates is to use the task scheduler to run a script to purge the old files. The sample script is written in VB script which Microsoft has announced is effectively end-of-life, so a better choice is Powershell.
A purge script is trivial.
Start-Transcript -Path "C:\Scripts\Logs\IIS-Log-File-Purge.log" # use your file/folder name
$DaysToKeep = 200 # how many days to keep
$path = "C:\inetpub\logs" # path to your log files
$AllFiles = Get-ChildItem -Path $path -Recurse -Filter *.log
"Total log file count is {0}" -f $AllFiles.count
$PurgeFiles = $AllFiles | Where-Object -Property lastwritetime -LT (get-date).AddDays(($DaysToKeep * -1))
"Selected for delete is {0}" -f $PurgeFiles.count
$PurgeFiles
$PurgeFiles | Remove-Item -WhatIf # remove -whatif after testing to actually delete the files
Stop-Transcript
Save that as a .ps1 file somewhere and define a task to run it. You probably only need to run it once a week. Use the SYSTEM account as the account that the task executes as.