You can store up to 30 million items or files in a list or library. Filtered views of large lists have a similar experience to other lists. However, when a list view shows more than 5000 items, you may run into a list view threshold error.
Use modern
Views showing many items work best in the modern experience. To avoid errors, you might see in the classic experience, use the modern experience.
Add indexes
When you filter or sort by a column that doesn't have an index, an error dialog could appear. To correct, add an index manually from List Settings in the settings menu, then Indexed Columns.
Indexes are created automatically in the following two situations:
Note: Automatic index creation when sorting in the modern experience is limited to lists and libraries with less than 20,000 items.
Edit the list view
If an error occurs when working with a large list, edit your list view.
The following four changes remove list view threshold errors. Make all four changes to remove all the errors.
Remove sorting for the list view
Note: Columns with column types like people, lookup, or managed metadata can cause list view threshold errors when sorting. However, you can use text, number, date, and other column types in the first sort.
Remove grouping in edit view
Other edits for the list view
Note: Displaying 12 or more columns of the following types can cause a list view threshold error: people, lookup, and managed metadata. Displaying columns of other types will not.
List Forms
When SharePoint constructs the list forms, all the fields available for the list item are retrieved from the database. Lists with a large number of Lookup columns may result in complex and potentially intensive SQL statements. SharePoint will verify the length of the full SQL statement and will display this error message in case that the maximum allowed length was exceeded:
"The list item could not be displayed/added because the length of the fields was too long. Please shorten the new entries or remove some fields from this list."
To address this issue please reduce the number of columns of the specific list.
Notes: