"maxwidth" still limits the width, what changed is how the width is
computed. Since patch 9.2.0419 it is the longest line in the whole
buffer, not the longest displayed line, so that the width does not change
while you scroll the popup with the mouse wheel. The completion menu
works the same way.
So a buffer with one long line now sits at "maxwidth" all the time. The
documentation still described the old rule, which is being corrected:
https://github.com/vim/vim/pull/20870If that is too wide, lower "maxwidth".