This feature only applies to list columns of the type Number or Currency.
How to setup feature in the list
Navigate to the list settings of the list you wish to add this feature
Create a new column of the type Number or Currency
In the additional column setting, set the minimum and maximum value
Save the column
Form view(user view) of the column
In the form when a user enter a number outside the range set in the column setting. A warning will be displaying informing the user to update the entered value
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