It definitely affects any host application running on Windows. Reaper has indeed a higher threshold. This is another well-known article about this: https://support.presonus.com/hc/en-us/articles/210757986-Problem-with-songs-refusing-to-add-plug-ins-in-Studio-One-on-Windows.
How fast the limit will be reached depends on how many FLS slots the host application uses on its own, of course.
Further discussions:
In case the limit is reached near the completion of a project, removing some Cubase components might be just enough to get there. A quote from a previous post:
For the time being, those who have the problem can lower the amount of loaded dlls by moving some of the components out of the folder C:\Program Files\Steinberg\Cubase 9\Components. Of course, this applies only to the dlls which are not needed during use (eucon if you don’t use such controllers, video files if you don’t need video support, hubservice, etc - make sure to not remove any core component like Baios, the exception dumper, mediaservice, SamplerTack, stepdesigner and the VST files). This will allow for more plug-ins… not much more, but could help some of you.
euconadapter (support for Euphonix / AVID controllers)
hubservice (Steinberg Hub, without this, you will only see the Project Assistant, the Hub on the left will be missing)
omffilter (you will be unable to import OMF files)
video (all files, of course all video features will be missing)
vstconnect
Best,