Move the default "User Data" folder to another drive with more space. (The default folder is "Studio One" if I remember.)
Update the "Studio One > Options/Preferences > Locations > User Data" tab to point to where you moved those folders.
Start by making a copy of those folders first, change the User Data location, test everything works as expected. If not update that Location back to the original.
The more space on that drive, the more default recording space will show up in the display.
Note that that number may not mean anything. You can put any specific song on any drive you want when you create it.