iPhone 17 Pro Max battery health dropped to 98% at 95 cycles

Your reported battery health is entirely as expected.

While battery health can be influenced by a variety of factors, you might reasonably anticipate that the indicated health will reduce by 1% for each 50 full charge cycles - one cycle being any combination of charging that together sums to a 100% charge. The indicated battery health is reported as an integer value, rounded down, starting at 100% health.

Other factors can influence overall battery health. High ambient temperatures can permanently reduce the battery's ability to retain full charge - as can maintaining the battery at 100% charge for very long periods of time that leads to chemical aging of the battery. Limiting the battery charge to ~80% of maximum may, in some circumstances, reduce the chemical aging effect.

You should note that the iPad will periodically fully charge the battery - regardless of iPad settings - in order to maintain battery charge calibration.

An iPad battery is rated to retain 80% of its original capacity (when new) after 1000 full recharge cycles. Any combination of charging that together sums to 100% equates to one full charge cycle (e.g., 50% + 20% + 20% + 10% = 100% = 1 full charge cycle). As such, simple math suggests that Battery Health will decline at 1% for each 50 full charge cycles; for 95 charge cycles, you can reasonably anticipate a 2% reduction in Battery Health - exactly as you observe.

Battery health dropped to 99 at 66 cycles and now 98 at 95 cycles

Perfectly normal. In general, expect the Battery Health to decline about 1% for every 50 Charge Cycles. The decline will not be linear though, so some months it may not decline at all, then drop 2% the next month or so.

So, at 500 Charge Cycles, Battery Health will be at about 90%

All that you really need to remember is to replace the battery when the Battery Health drops under 80%

There is no need for you to babysit the battery and check the settings all the time. It won't help, and it will just make you anxious. The battery is going to do what it is going to do.

If you want best battery life, set the battery up for Optimized Battery Charging and ignore any Charge Limit settings. Connect the phone to the power supply at night and leave it connected all night.....every night.

Sounds about right. Nothing to worry about.