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Unfortunately that is not possible to do out of the box, and really hard to get right, I think.
Some time ago I did however create a validation that displayed a warning to the editor when the text was possibly too long. I stripped out the html and counted the characters.
You can read more here:
http://www.jondjones.com/learn-episerver-cms/episerver-developers-guide/common-web-page-component-tutorials/how-to-return-different-validation-warnings-to-content-editors-when-publishing-content-in-episerver
https://world.episerver.com/blogs/Johan-Bjornfot/Dates1/2018/5/icontentsavevalidate/
https://world.episerver.com/documentation/class-library/?documentId=cms/11/CF0ACF14
I'm wondering if it's possible to set a character (characters as in letters, no html elements or tags included) limit on a XhtmlString, and if yes, how can I do that? I found this thread from 2008, https://world.episerver.com/forum/developer-forum/Developer-to-developer/Thread-Container/2008/3/Char-limit-on-XHTML-string/ which suggests using a custom built function.