I am working on sharepoint document library inside sharepoint on-premises 2013. the document library contain around 3800 files and folders. so when i went to the library setting, i got this warning message:-

so my question is how i can allow the document library to have more than 5,000 items? as in our case we store our projects documents inside this library, so it should allow use to have more than 5,000 items. is this is possible to increase the threshold? as if we can increase the threshold, then will it have any drawbacks ? Regards