Optimize or Reduced Size PDF size limits in Acrobat DC?

I'm trying to "optimize" or "reduce" the size of a PDF that is 241 mbs.  Acrobat either crashes or endlessly runs when I try either of these (I've run for over 20 minutes with no results).

Does anyone know if there is a file size limit to either or thee functions?  Or know another way to reduce the size?  Zipping the file won't work in this case as I need to file to fit on a device with less than 200mbs of space remaining.