Some additional notes here :-
There's a cap you can set on the Log Analytics workspace - but this is an overall cap and we recommend a single Log Analytics workspace (usually per environment as a starting point) for all App Insights resources. So this is not going to work as the cap would impact all and all types of telemetry
The other option is to look at sampling. The recommendation is to have an App Insights resource "per app, per environment" (as noted above each App Insights resource in a given environment usually points back at a single Log Analytics workspace) in this way you get a clearer view "per app" about what's going on
Sampling would allow you to reduce the rate of ingestion for a given telemetry type through config (and that includes exceptions) as described here for Java https://learn.microsoft.com/en-us/azure/azure-monitor/app/java-standalone-sampling-overrides