If the G5s fully implement the LBA-48 spec, then the max addressable HD space is 128 PetaBytes. There is
another limit we will run into sooner, unless Apple releases a firmware update.
The Apple Partition Map can handle a maximum disk size of 2 TB. The GUID partition scheme can go much higher, but PowerMacs cannot boot from a GUID partition scheme. So until/unless Apple releases a firmware update, a boot drive in a PowerMac will be limited to 2 TB.
Larger drives could be installed, but would ignore the extra space if they are partitioned with APM. A larger drive with GUID would work fine as a data disk.