There is no limit, but as you might know, IF players are based on the performances of the players in real football. So it is very exeptional that a player gets over 5 IF versions due to the high amount of football players.
The following user thanked gilleken5 for this useful post:
no limit but just because a player gets in TOTW and have already had an IF doesnt mean a better one will be released. they often just rerelease a IF that is already released