Codex is open source. You can build it yourself. You don't have to use upstream's parameter choices, compaction strategies, subagent heuristics, or whatever. Strange how people act like tweaks to these parameters are mandates when they're really just suggestions relayed to you via git.
For example: upstream recently changed the effort level hotkeys so M-. would stop at xhigh, not max. If you want max, upstream, you go to the /model menu. I didn't like this change, so I undid it locally. Easy peasy.
The models themselves support up to 1M. You are just charged more for all context over 400k. The 272k limit is just a client limitation to ensure you can never go over 400k since the maximum output size of the model is 128k.
For example: upstream recently changed the effort level hotkeys so M-. would stop at xhigh, not max. If you want max, upstream, you go to the /model menu. I didn't like this change, so I undid it locally. Easy peasy.