Hello Jagannath,
While there’s no official size limit stated, many users have reported similar issues, suggesting there may be an undocumented threshold or timeout affecting larger files. Since you can’t use third-party connectors like Adobe or Encodian, one workaround within the Microsoft ecosystem is to use a combination of Excel Online (Business) and OneDrive actions to extract the file content, recreate the file, and then convert it.
Some users have also had success by creating a new file from the original content before running the conversion, which seems to bypass the error in some cases.
This might help