Auditd service failed with the following error "auditd[XXX]: num_logs must be 999 or less "

Issue

• Audit service is not starting due to the following errorauditd[XXX]: num_logs must be 999 or less

* auditd.service - Security Auditing Service
   Loaded: loaded (/usr/lib/systemd/system/auditd.service; enabled; vendor preset: enabled)
   Active: failed (Result: exit-code) since Tue 2022-03-15 16:37:17 CET; 1min 45s ago
     Docs: man:auditd(8)
           https://github.com/linux-audit/audit-documentation
  Process: 2275 ExecStart=/sbin/auditd (code=exited, status=6)

Mar 15 16:37:16  systemd[1]: Starting Security Auditing Service...
Mar 15 16:37:17  systemd[1]: auditd.service: control process exited, code=exited status=6
Mar 15 16:37:17  systemd[1]: Failed to start Security Auditing Service.
Mar 15 16:37:17  systemd[1]: Unit auditd.service entered failed state.
Mar 15 16:37:17  systemd[1]: auditd.service failed.

• journalctl -u auditd

Mar 15 08:32:43  auditd[28352]: num_logs must be 999 or less  <--------- [1]
Mar 15 08:32:43 auditd[28352]: The audit daemon is exiting.
Mar 15 08:32:43  systemd[1]: auditd.service: control process exited, code=exited status=6
Mar 15 08:32:43 systemd[1]: Failed to start Security Auditing Service.
-- Subject: Unit auditd.service has failed