Can we set character limit for rich text field
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The maxSize parameter restricts the number of characters. Keep in mind that depending on your use case, this might or might not include the HTML formatting.
As per the documentation, maxSize paramter is based on the size and not the characters, please clarify. Use case here is to base it on character count.
In the original post "character limit" is mentioned. As I do not know whether this includes the formatting or not, both options are completely valid.
I had situations in which I just had to make sure that the entered text, including the formatting, fits the size of the field in the database.
Yes, I could verify maxSize is for overall character length including the HTML tags, if we want to exclude the tag references, we can use a validation but also have maxSize configured as well, to ensure DB field updates won't fail as you've suggested.