This post focuses on policy settings for the Event Logging Service. For clarity, these settings control the Event Logging service; the service responsible for capturing and writing events throughout Windows. These policy settings do not affect the Event Viewer application.
These are some powerful policy settings that allow you to configure five settings for Application, Security, Setup, and System event logs. These categories and their policy settings are located under Computer Configuration\Policies\Administrative Templates\Windows Components\Event Log Service.
The Log File Path policy setting, when enabled, allows you to provide a specific location where the Event Log service writes its log file. You must provided path and filename when relocating where Windows writes the log file.
Next is the Maximum Log file size policy. When enabled, this policy allows you to specify the maximum size of the event log. It supports sizes between one megabyte and two terabytes and uses one-kilobyte increments.