The only way the treadmill can stop or slow the airplane is to create
more Drag than Thrust.

The reason the airplane will be able to accelerate is that the
treadmill does not create any significant drag aircraft.

When the treadmill hits 500MPH how much force will it take to hold the
airplane in position?

With perfect frictionless bearings it will take 0 force. If the engine
is generating any thrust the airplane will move forward no matter what
the treadmill does.

Brian.