This is how you can modify PHP's upload_max_filesize using CloudLinux's PHP Selector in cPanel.
1. Log in to your cPanel Account.
2. In the Software section, click on Select PHP Version.
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3. Click on the Options menu.

Keep in mind: If the Options page shows an error related to the native PHP version, change it to a non-native version first.
4. Look for upload_max_filesize and click on the drop-down option displayed in front of it.
Then choose the appropriate limit as per your requirements.

And that's how you modify its value.