sharepoint online – Can we create a lookup relation between 2 lists even if the 2 lists exceeds the threshold limitation

We have 3 sharePoint online lists A,B & C .. where lists B & C has a lookup field to list A. now all of the 3 lists will contain around 1 million record.. so when we create or edit items from lists B & C will we be able to select the related list A item? or the lookup field inside lists B & C create/edit forms will not show the 1 million options? we will be using the modern ui.