Alternative solution is to make sure that all image assets included in the design are less than 100mb and try publishing new link.
It seems that for me the problem was that my file had too many artboards to create a new link. However, I didn't find a problem to update an existing link. So the workaround equivalent to create a new link is:
1. Create a backup of your file.
2. In the file, delete most of your artboards.
3. Create a new link (it must proceed without issues).
4. Once the new link is created, right click "Undo".
5. Now that you got all your artboards back, update the link that you created in step 3.