For example if I go to create a new virtual disk in Dell OpenManage Server will it see the full capacity of the physical drive? I know it's supposed to be able to use a full 3TB drive but I can not find any info on 4TB drives. Thanks!
I found a comment here which states that for example you can create a 15 GB RAID-5 VD using 3 disks each of 10GB.
That indicates that the PERC H700 should work both with large drives (e.g. 4TB ones) and with huge arrays.
A similar indirect conformation can be found here in the compatibility summary of a 4TB drive. It list controller which have problems with the drive or can only use limted capaibily. None such marks are next to the H700.
In general you do not need to search on 4TB stuff though since the usually problem is at 2.19TB. If it works with that then it is very likely to work with larger drives. Googling for that should be easier.
As would calling Dell. (As @mdpc already wrote). I found their corporate support quite good.
Contact Dell support directly and they will be able to answer the question with authority.
Otherwise, just try it....all it can do is not see the additional space.