This limit is purely based on the events retrieved based on the search keywords, so scoping the search down to retrieve fewer than 100-200k events per second per distributed indexer will guarantee that you don't hit this.
However, it seems odd that you'd run into this by expanding your time range. This warning comes up for a particular second, and expanding the time range will only make a difference if you capture another particular second that has more events than this (again, per server).
The limitation is in splunkd itself, but we could explore making the parameter tunable based on memory available. The reason for the limit is that the index (and its notion of a cursor) doesn't support subsecond precision, and to guarantee inverse-time-order retrieval, we must pull all events for a given second and then sort them with respect to subsecond and arrival.
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