I'm not sure any project so far has reached this amount of events.
But in theory, C2 should handle those.
After, depending on your export platforms and your design it's another story.
I'd be curious though to know what type of board game could require 40k events.
Have you used functions ? They help a lot to factor some repetitive actions.
Are you sure you also use picking and/or families efficiently ?
Have a look at the tutorial asteroid in less than 100 events
there's already a lot going on and still it fits under the limits of the free edition of C2.
Are you sure your estimate couldn't be downsized ?