Broken out from #28122
Bech32(m) was defined with a 90 character limit so that certain guarantees for error detection could be made for segwit addresses (see https://github.com/bitcoin/bips/blob/master/bip-0173.mediawiki#checksum-design).
However, there is nothing about the encoding scheme itself that requires a limit of 90 and in practice bech32(m) is being used without the 90 char limit (e.g. lightning invoices, silent payments). Further, increasing the character limit doesn’t do away with error detection, it simply changes the guarantee.
The primary motivation for this change is for being able to parse BIP352 v0 silent payment addresses (see https://github.com/bitcoin/bitcoin/pull/28122/commits/622c7a98b9f08177a3cfb601306daabb101af1fd), which require up to 118 characters. In addition to BIP352, modeling the character limit as an enum allows us to easily support new address types that use bech32m and specify their own character limit.