ipv4 neighbor table overflow, please consider increasing max-neighbor-entries

Recently started getting the above error on a router. Not sure if its a bug in 6.48.6 or something else. The ARP cache only has about 3500 entries and the Max Neighbor Settings in /IP Settings is set to 32768 so it’s not even close capacity. There have been no changes on this router recently except the firmware upgrade. Yesterday I had to reboot it for the first time due to abnormal high CPU usage which might have been attributed to these entries. Any ideas, I’ve searched the forums and internet.

Did you manage to solve this?
I have exact problem on same version