p-limit allows you to call Promise.all but with a concurrency limit. The code example below executes the async function with a concurrency limit of 3

p-limit-example.js

const { promisify } = require("util");

const sleep = promisify(setTimeout);

const doSomething = async (arg) => {
  console.log(`doing something with ${arg}`);
  await sleep(1000);
  if (arg === 5) throw Error("bummer!");
  console.log(`done something with ${arg}`);
  return arg * 10;
};

async function run() {
  // work around to use ESM package in commonjs
  const pLimit = await import("p-limit");
  const limit = pLimit.default(3);

  const args = [1, 2, 3, 4, 5, 6, 7, 8, 9, 10];

  const result = await Promise.allSettled(
    args.map((arg) => limit(doSomething, arg))
  );

  console.log(result);
}

run();