These two configuration options can enhance the performance of the workload that consists of a huge number of concurrent queries that are smaller and faster.
Enabling a multi-clustered virtual warehouse in maximized mode allows the warehouse to scale out automatically by adding more clusters as soon as the current cluster is fully loaded, regardless of the number of queries in the queue. This can improve the concurrency and throughput of the workload by minimizing or preventing queuing. The maximized mode is suitable for workloads that require high performance and low latency, and are less sensitive to credit consumption1.
Setting the MAX_CONCURRENCY_LEVEL to a higher value than its default value of 8 at the virtual warehouse level allows the warehouse to run more queries concurrently on each cluster. This can improve the utilization and efficiency of the warehouse resources, especially for smaller and faster queries that do not require a lot of processing power. The MAX_CONCURRENCY_LEVEL parameter can be set when creating or modifying a warehouse, and it can be changed at any time2.
Reference:
Snowflake Documentation: Scaling Policy for Multi-cluster Warehouses
Snowflake Documentation: MAX_CONCURRENCY_LEVEL