HTTP status code 429 means that SharePoint has received too many requests and the server is throttling your tenant. When a user exceeds usage limits, SharePoint Online throttles any further requests from that user account for a short period. All user actions are throttled while the throttle is in effect.
A detailed article on SharePoint Online resource throttling is available with MSDN. These basics must be the same for SharePoint Server on premise too.
If the response is helpful, please click "Accept Answer" and upvote it.
Note: Please follow the steps in our documentation to enable e-mail notifications if you want to receive the related email notification for this thread.