Change the SharePoint Online version limit on the Organization level

1. Using SharePoint Admin Center: Login to Microsoft 365 Admin Center and navigate to SharePoint > Active Sites.
Select the set of sites for which you want to change the version limit and click on Policies > Version Control.
Adjust the limits for the number of Major and Minor versions. 
2. Using a PowerShell script: Run the following script to change the version limits:
powershell
Connect-SPOService -Url https://yourdomain-admin.sharepoint.com
Set-SPOSite -Identity https://yourdomain.sharepoint.com/sites/yoursite -VersioningEnabled $true -MajorVersionLimit 100 -MinorVersionLimit MinorVersionLimit 100 -MinorVersionLimit 50
Replace https://yourdomain.sharepoint.com/sites/yoursiteMajorVersionLimit and MinorVersionLimit with the desired versioning limits.
3. Check Storage Quota: In SharePoint Admin Center, check the storage quota for the site set.
If the storage quota is close to the limit, you may need to increase the quota to support more versions.
4. Contact Microsoft Support: If none of the above methods work, it is recommended to contact the Microsoft Support team with detailed error messages and screenshots for further assistance.