Currently you can only respond to the latest 40 notifications.
Technically I am talking about the API /invite/{notificationId}/response
In a scenario you are getting a lot "Request Invite" and want to respond to them, that if you have over 40 notifications then you will not be able to reply to the old one. VRChat (API) will return
{"error":{"message":"Notification not found","status_code":404}}
While I believe this problem does not affect most of the users, but me, and many other Japanese event hosts are admitting people to join the event by Accepting / Declining "Request Invite", therefore have the ability to send a message to every notification does help very much.
If I may suggest, raising the limit to 100 will be more than enough. Thank you.