Error while creating Business Process Monitoring Objects

Hi Experts,

While creating Business Process Monitoring Objects for Background Jobs we are getting below mentioned error. Objects are getting activated but we are also getting below error. Can anyone please confirm if this will have any negative impact for Monitoring of the Batch Job Objects.

"Could not create monitor attibute job cancellation type MSC(8: NO_MORE_SPACE: Can not create MTE: no more space:)"

Also it would be helpful if someone confirms what this check box of critical means. PFA attached image for more reference.

Thanks,

Rakesh Bhor