No, there is no current way to limit a taxonomy depth using a 3rd party module that I know of. The maximum depth of taxonomies is limited by the database table structure, not just PHP code, to 9 levels in D7. You could add a custom validator on taxonomy term add/edit forms (and with extra logic certain Taxonomy Trees) to enforce a maximum parent depth. See Custom Validation while adding a term under taxonomy

No, there is no current way to limit a taxonomy depth using a 3rd party module that I know of. The maximum depth of taxonomies is limited by the database table structure, not just PHP code, to 9 levels in D7. You could add a custom validator on taxonomy term add/edit forms (and with extra logic certain Taxonomy Trees) to enforce a maximum parent depth. See Custom Validation while adding a term under taxonomy

The Content Taxonomy module allows you to create a term reference on Nodes, with additional configuration beyond the default Taxonomy term widget supplied by drupal core. In your case:

• further settings for hierarchical vocabularies, like the depth of the tree or a parent term for sub-trees

No, there is no current way to limit a taxonomy depth using a 3rd party module that I know of. The maximum depth of taxonomies is limited by the database table structure, not just PHP code, to 9 levels in D7. You could add a custom validator on taxonomy term add/edit forms (and with extra logic certain Taxonomy Trees) to enforce a maximum parent depth. See Custom Validation while adding a term under taxonomy