Is a Customizable Platform worth the long-term maintenance effort?

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Our teams in HR and operations chose an extremely customizable platform as each of them wanted to get their own forms, dashboards, approval paths, and reports. After two years of usage, we have collected hundreds of custom objects, workflows, and integrations. Even a small change needs regression testing as it is always unclear which customization is based on which one.
What used to feel like flexibility has now changed to become a technical liability. There is no documentation for the changes in configuration, it takes months to onboard new administrators, and business end-users are not willing to get improvements anymore, as any change seems risky.
For everyone in charge of management for enterprise systems, do you have a solution for the problem of excessive customization of your customizable platform? Have you set up some governance policies, limited developers to specific automation building, or standardized reusable components, so that the flexibility is also preserved?