#!/bin/bash 
# First 4 occurrences: 
echo  'one two three four five six seven'  |  \
  sed  's/[^[:space:]]*/\n&/g;:t;/\n/{x;/.\{4\}/!{s/$/./;x;s/\n[^[:space:]]*/TEST/;bt};x};s/\n//g' 
 
nl =' 
' ; sed  "s/[^[:space:]]*/\\$ nl&/g;:t${nl} /\n /{x;/.\{4\}/!{${nl} s/$/./;x;s/\n [^[:space:]]*/TEST/;bt$nl };x$nl };s/\n //g"  <<<  'one two three four five six seven' 
 
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