Not exactly. KOH is much more soluble than 28%. At room temperature (77 F) you can disolve approximately 1,200 grams of KOH in 1 liter of water (1000 grams) for a concentration of 120% (by weight) before any precipitates will fall out of the solution.
The reason you don't want to use concentrations higher that 28% is that conductivity starts to fall off at that point. There are several theories as to why this happens.
One is that the ions begin to associate with one another and start to form neutral pairs. I only vaguely understood about half of what I was reading in that white paper, so my eyes began to glaze over and that's about all I can remember about it.
"Sell your cleverness and purchase bewilderment"