Maximum number of Versions per flow is 50.
Check the below link for additional information
https://help.salesforce.com/articleView?id=flow_considerations_limit.htm&type=5

Total versions of a process is 50.
Check the below link for additional information
https://help.salesforce.com/articleView?id=process_limits.htm&type=5

Fix the issue by deleting the old Flow versions.

For Deployments Using CI/CD, API version of the Flow should match the target environment. Else, it will create a new version whenever deployed.