How to set defaults for 'Keep the following number of major versions'

Back in December, we've migrated to SharePoint 2016. Since then, any Document library that are created have the 'Keep the following number of major versions' defaulted to 10.

Is there any way to change this default value or even remove the limit for future Document Libraries?

You can change this value for one library, not for all. On your SharePoint site directly

1. Go to the library for which you want to enable versioning (Work also for a list)

2. On the ribbon, select Library or List

3. In the Settings group, select Library Settings
4. On the Settings page, select Versioning Settings.
5. In the Version Settings page, change the following : Limit the number of versions and drafts to retain.

You can not had undefined limit, SharePoint Server Library Settings allows a range of 1-50000 major versions.

To share these settings across libraries, you should create document library templates that include your content governance settings. This makes sure that new libraries will reflect your content governance decisions.