M2 Drive Max Capacity found on the DELL community contains:
There is currenty no practical limit on max capacity for drives at a hardware/firmware level. That hasn't existed since the Windows XP days where you needed SP1 and updated motherboard firmware to support 48-bit LBA addressing if you wanted to use drives larger than (I think) 137 GB. Since then, there's a 2TB limit for OS disks booting in Legacy BIOS mode, but that doesn't apply to systems booting in UEFI mode or to non-OS disks at all as long as you're not running XP anymore. The only possible limitation you might run into is that some high capacity M.2 SSDs achieve their capacity by having storage chips on both sides of the board, and that can cause some physical fitment issues in some systems. So be aware of that. Or if you can find an SSD of the desired capacity that's only single-sided, then even better. - jphughan
The SuperUser answer also explains that:
- Legacy BIOS mode and MBR partition table format cannot describe partitions beyond 2 TiB
- Whereas UEFI mode and GPT partitions allow more than partition sizes greater than 2 TiB to be used.
In summary, I can't find a technical limitation which would prevent the use of a 2 TB drive. Albeit I haven't found a definitive statement from Xiaomi.