You can monitor this behavior by accessing logs or app logs since the Action Console can not provide detailed information on an error caused by MFA factors. if you want to monitor this in live action, you can use the Real-time Webtask Logs Extension.
However, other than monitoring the error, the behavior presented from exceeding the MFA attempts is not configurable, as I would suggest checking out this Knowledge Article - MFA Limits for OTP - Login Fails with Error “Too many failed codes. Wait for some minutes before retrying”.
Thanks,
Remus