We did have a limit of 2037 (required by number constraints in older versions of PHP) but recently relaxed this to 2999 for 64 bit servers. That is probably too large.
If you edit the file components/com_jevents/libraries/iCalRRule.php and change line 437 from
$maxyear = (PHP_INT_SIZE === 8) ? 2999 : 2037;
to
$maxyear = (PHP_INT_SIZE === 8) ? 2099 : 2037;
it would stop the repeats at 2099 instead