Max number of sub folders

Do you mean nested pages?

pages_content_1 (page with content, parent↓)
  pages_content_2 (page with content, child of above, parent↓) 
    pages_content_3 (page with content, child of above, parent↓) 
      pages_content_4 (page with content, child of above)

If so, I don’t believe there is a limit. The URL would be

http://example.com/pages_content_1/pages_content_2/pages_content_3/pages_content_4

I’m not sure what you mean by /{category}/{tag}/page_content, WordPress does not typically permalink in this fashion.

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