Manually moving this BZ to MODIFIED so QE can verify this behavior against 4.10 clusters. Because this functionality is already present in 4.9+ payloads, we'll need to manually verify against 4.9 and 4.10 before we can land the 4.8.z downstream PR (https://github.com/openshift/operator-framework-olm/pull/219) due to the valid-bug verification check.

1, Install 4.9 cluster.
[cloud-user@preserve-olm-env jian]$ oc get clusterversion
NAME      VERSION   AVAILABLE   PROGRESSING   SINCE   STATUS
version   4.9.17    True        False         37m     Cluster version is 4.9.17

2, Create 1000 fake secrets in openshift-operator-lifecycle-manager project.
[cloud-user@preserve-olm-env jian]$ for i in {1..1000};do oc create secret generic test${i};done
secret/test1 created
...

3, Upgrade it to 4.10
[cloud-user@preserve-olm-env jian]$ oc adm upgrade --to-image=quay.io/openshift-release-dev/ocp-release:4.10.0-fc.1-x86_64 --allow-explicit-upgrade --force
warning: Using by-tag pull specs is dangerous, and while we still allow it in combination with --force for backward compatibility, it would be much safer to pass a by-digest pull spec instead
warning: The requested upgrade image is not one of the available updates.  You have used --allow-explicit-upgrade to the update to proceed anyway
warning: --force overrides cluster verification of your supplied release image and waives any update precondition failures.
Updating to release image quay.io/openshift-release-dev/ocp-release:4.10.0-fc.1-x86_64
[cloud-user@preserve-olm-env jian]$ oc get clusterversion
NAME      VERSION   AVAILABLE   PROGRESSING   SINCE   STATUS
version   4.9.17    True        True          19s     Working towards 4.10.0-fc.1: 6 of 765 done (0% complete)
...
[cloud-user@preserve-olm-env jian]$ oc get clusterversion
NAME      VERSION   AVAILABLE   PROGRESSING   SINCE   STATUS
version   4.9.17    True        True          57m     Working towards 4.10.0-fc.1: 643 of 765 done (84% complete)
[cloud-user@preserve-olm-env jian]$ oc get clusterversion
NAME      VERSION       AVAILABLE   PROGRESSING   SINCE   STATUS
version   4.10.0-fc.1   True        False         3m48s   Cluster version is 4.10.0-fc.1

Upgrading succeed, LGTM, verify it.

Since the problem described in this bug report should be
resolved in a recent advisory, it has been closed with a
resolution of ERRATA.

For information on the advisory (Moderate: OpenShift Container Platform 4.10.3 security update), and where to find the updated
files, follow the link below.

If the solution does not work for you, open a new bug report.

https://access.redhat.com/errata/RHSA-2022:0056