My question is how change this code so it will use only 4 threads/sub-processes?
TESTS=\"a b c d e\"
for f in $TESTS; do
  t=$[ ( $RANDOM % 5 )  + 1 ]
  sl         
        
I have found another solution for this question using parallel (part of moreutils package.)
parallel -j 4 -i bash -c "echo start {}; sleep 2; echo done {};" -- $(seq 10)
-j 4 stands for -j maxjobs
-i   uses the parameters as {}
--   delimits your arguments
The output of this command will be:
start 3
start 4
start 1
start 2
done 4
done 2
done 3
done 1
start 5
start 6
start 7
start 8
done 5
done 6
start 9
done 7
start 10
done 8
done 9
done 10