The radial forces that push the insert away from the cutting surface become more axial as the depth of cut increases, preferable is to have more axial forces instead of radial, which have a negative effects on the cutting action e.g. with more tendencing to vibration and bad surface finish with increased radial forces.
The nose radius also affects the chip formation. Generally, chip breaking improves with a smaller radius.
As a general rule of thumb, the depth of cut should be greater than or equal to 2/3 of the nose radius, or 1/2 of the nose radius in the feed direction.