Nick here from Shopify!
You can create up to 100 variants for any given product. Each product can have up to 3 options. The options can be different from product to product. For example, one product can use size, color, and style, and another product can use weight, finish, and material.
You can read more about this from the help guide Shopify has for this here. As mentioned in the guide, the only way you could possibly increase the variant or option limit would be through a third-party app in the Shopify App Store.
Hopefully, this helps or at least points you in the right direction for a workaround.