deleted Because Android and GrapheneOS only support 1 VPN connection in a profile at a time, hence this would apply to different user profiles
No, it applies to each individual profile. There is no restriction to the number of VPNs running across multiple profiles, except for the restriction that only 3 profiles can be running at the same time.
deleted As this appears to not be the matter (here and here), then 3 profiles running simultaneously can have 3 VPN connections simultaneously
Yes.
deleted or only 2 VPN connections can run simultaneously due to current software memory limits?
I'm not sure what you see in that link that make you think only 2 simultaneous VPN connections.
You can have 1 VPN in the owner profile + 1 VPN in each of the active secondary profiles. Since there is a limit on the number of active profiles, this effectively limits you to 3 VPNs. But the limit is on profiles, not VPNs per se.
Private spaces will increase this to 4 active VPNs (presumably).