Hi,
the "sh iparp" command doesn't give you a view of the hardware usage, this is a software view. It is important to keep the iparp max_entries above the actual network size.
To know the HW usage, you need to enter that command: sh iproute reserved-entries statistics
This will tell you all your L3 HW table usage. Hard to comment without seeing the output. You'll not exceed the HW limit, but we can optimize the resource to help maximize it. EXOS will also help you by installing active entries in priority, but at one point in time you'll need to change the design or the devices if you need more ARP.