It would indeed appear to be the reason why ElectrumX is disconnecting the client... The "soft" limit is when throttling starts to occur and the "hard" limit is when you get disconnected:
As the total cost of a session goes over the soft limit, its requests start to be throttled in two ways. First, the
number of requests for that session that the server will process concurrently is reduced. Second, each request starts to sleep a little before being handled.
...
Once the hard limit is reached, the session is disconnected.
So, not only will it eventually disconnect you, but due to the throttling it'll slow down your syncing when you hit the soft limit.
additionally...
If a session disconnects, ElectrumX continues to associate its cost with its IP address, so if it immediately reconnects it will re-acquire its previous cost allocation
So, you will just continuously get disconnected once you hit that hard limit
I'd suggest setting the soft and hard limits up to a value of 100000000 and the bandwidth cost to 1000000... that should hopefully stop ElectrumX from reaching the hard limit and disconnecting your client