@Kothai Ramanathan Thanks for using Microsoft Q&A.
No, there is no way in ADF to provide a limit on files or limit on size of the zip files to create multiple files. You can however, try using a staging storage location and use Metadata activity to move new files to the staging area based on the size. Once the specified file size or number of files is reached then you can transfer the files from staging as a zip to the final destination.