Depending on the kind of exercise you're doing more can be less.
The more intense the exercise, the more time your body needs to recover. Pushing too hard can result in burn out or worse, injury. This is doubly true when you're dieting as your bodies ability to recover in a caloric deficit is not nearly as great.
For weight lifting (or HIIT) I would suggest 3-4 times a week maximum.
Cardio can be done seven days a week but you need to build up your capacity and it doesn't hurt to take at least one day a week off.
Having said all of that - my suggestion since you have more free time would be to try an find an activity you enjoy. Whether it is a sport like tennis or hiking in the hills finding an activity you like is very worthwhile and helps to ensure compliance. Of course, some people like going to the gym six times a week. Nothing wrong with that either.
"Getting solid information is easier than ever. Getting misinformation is even easier." - Kaplods
Maintaining for two years and I eat whatever I want - just not however much I want. Details here.