As per this pop-up, I have maxed out on my pending edits:
For those who cannot read screen images, it says with my emboldenment:
You have too many pending edits. Further edits cannot be submitted until prior edits have been approved.
Not all edits get approved, some get rejected, so I suggest that this should read reviewed or similar.
That is unless it is status-bydesign with the intent that rejects do not reduce the pending queue, but this would end up with the (absurd) situation if all edit suggestions are rejected one would end up with an unreconcilable edit "ban" ad infinitum (or maybe until they earn sufficient reputation).