1CEB90 Series Counterbalance Cartridge Valve, 2900 - 5075 PSI Range (Factory Setting At 3000.00), Screw adjustment, Pilot Ratio

23 GPM is exactly the rated flow for this cartridge, so you're right at the ceiling but within spec. The counterbalance function is what addresses your runaway concern. When installed on the outlet side of the actuator, it holds a set backpressure against the load so the cylinder can't move faster than the pump is feeding it. Factory setting comes in at 3000 PSI, adjustable anywhere from 2900 up to 5075 PSI with the screw adjustment if your circuit needs something different. Just make sure it goes in close-coupled to the actuator, not downstream in the line, or you lose the hose-burst protection benefit entirely.

For replacement matching, the model number called out for this valve is 1CEB90F35S4, and it is a 1CEB90 series counterbalance (overcenter) screw-in cartridge with a 4:1 pilot ratio and a factory preset of 3000 psi in a 2900 to 5075 psi adjustable range.

This valve is rated to BS5540/4 Class 18/13 (25 micron nominal) filtration. Keeping your hydraulic fluid clean will definitely help with performance and longevity.