If I set $maxCount = 1, the event store used to only keep the the latest event in the stream.
So it seems that the only way to get $maxCount to work is to explicitly create a stream with $maxCount.
How did you manage to set $maxCount without explicitly creating stream previously? $maxCount and $maxAge functionality wasn’t changed for quite some time now.
P.S. So it seems you were setting $maxCount on event, not on stream. That way it never worked, actually. Probably docs doesn’t state clear enough that $maxCount/$maxAge is set on stream creation metadata.