Just building a case for upgrading and am curious.
3 answers
Yes, Character limit—Formula fields can contain up to 3,900 characters, including spaces, return characters, and comments. If your formula needs more characters, create separate formula fields and reference them in another formula field.
For more Info visit below Link
Formula Field Limits and Restrictions (https://help.salesforce.com/articleView?id=formula_field_limits.htm&type=0" target="_blank)