I had the same problem with my 2014 5.3. Not the high oil level, but smell of unburnt fuel and high fuel consumption. Oil smelled like fuel.
I replaced all the injectors, and since then, everything is fine. A defective high pressure fuel pump would cause at least an check engine light, and would cause the engine running lean, not rich.
A faulty injector can leak and cause this issue without causing a check engine light.
Other probable causes for an engine running too rich are:
- Defective coolant temp sensor --> Is the engine temperature within plausible levels?
- Defective Thermostat --> Are you getting the engine to operating temperature? Especially on highway speeds?
- Defective O2 Sensor --> Depending on the mls you may replace them anyways, as they age.
- Defective MAF Sensor --> Already mentioned
- Heavy short distance driving
But most certainly i'd suspect the fuel injectors.
I wouldn't recommend driving like this for too long, as the fuel washes away the oil film on your cylinders and may cause additional wear.