
Hi @Yiru Chen
There is no direct article about the column limits of SharePoint Online, however in SharePoint Server, each column type has a size value listed in bytes.
The sum of all columns in a SharePoint list cannot exceed 8,000 bytes, and I think this will also apply to SharePoint online.
The following picture shows column limits from Microsoft boundaries and limits.
The maximum number of selections in a single lookup column depends on the sum of all columns in your list.
So It’s possible to create a lookup column to another list with >200 selections if they are not exceed 8,000 bytes.
Similar issue for your reference:
https://stackoverflow.com/questions/45030320/max-number-of-columns-in-a-list-in-sharepoint-online
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