The Maximum Log Size specified is not valid when changing Windows Event Viewer log size

When changing Application Windows Event Log maximum size and you are seeing the message below then it is possible that it is set by group policy (local or Active Directory).

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Event Viewer
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The Maximum Log Size specified is not valid. It is too large or too small. The Maximum Log Size will be set to the following:  1028 KB
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OK  
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This behavior can be modified allow changes via Windows Event View application. To do so open Group Policy Editor (gpedit.msc). Then navigate to Computer Configuration | Administrative Templates | Windows Components | Event Log Service | Application (for example) then change Maximum Log Size (KB) to Not configured.

Note that you need to be an administrator to make the changes.