As you said, the maximum log file size setting - its value is usually set to 4194240 KB.
According to the official site, the value between 1024 (1 MB) and 4194240 (4Gb). It also must be a multiple of 64KB.
For this value, currently there is no update information for Windows server 2019.
Hope above information can help you.
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You can go beyond that, but the larger the file is the more difficult it will be for the OS to open and write to it and more prone to corruption. It would also be difficult to open for viewing, etc.
So I would still use the recommendations on that link.
You can also change the maximum size with Group Policy: