As David said, it is not recommended to limit the instances of a component on a page. However, there is a way to do it. In your LWC (say, 'LWC1'), import a method from the controller of another LWC (say 'LWC2'). In this method, maintain a counter to keep track of the number of times the method was invoked and return the value. In LWC1, invoke this method and decide whether to render the UI based on the returned value. You can, thus, control how many instances of the component you want rendered on the page at one time. However, note that you won't be able to control which instance is rendered i.e the any of the instances of the component could be rendered at random. This principle of a shared back-end controller is what the pubsub recipe is based on