20191214: AWS provides /29 CIDR and allow /31 per https://aws.amazon.com/directconnect/faqs/
quoted below:
Q: In the case of public virtual interface, I will need /29 public
IPv4 addresses. Will AWS provide me with /29 public IPv4 Classless
Inter-Domain Routing (CIDR)?
Yes, upon request, AWS will provide you with /29 public IPv4 CIDR
block addresses.
Q: Do I have to use /29 or can I use two /31 for my logical redundancy
sessions?
For simplified routing, it's recommended to use the default /29
addresses for a single virtual interface. If there is a requirement
for your network to have multiple /31 addresses you can create two
separate /31 addresses for a single VIF. BGP peering on these two /31
addresses will terminate on multiple AWS devices for high
availability.
The smallest allowed CIDR block in AWS is /31
However, as the original question is about VPC Subnet, which is a different story, as AWS have some reserved IP for each subnet.
Per AWS VPC faq doc here: https://aws.amazon.com/vpc/faqs/
Q. Is there a limit on how large or small a subnet can be?
The minimum size of a subnet is a /28 (or 14 IP addresses.) for IPv4.
Subnets cannot be larger than the VPC in which they are created.
For IPv6, the subnet size is fixed to be a /64. Only one IPv6 CIDR
block can be allocated to a subnet.
Q. Can I use all the IP addresses that I assign to a subnet?
No. Amazon reserves the first four (4) IP addresses and the last one
(1) IP address of every subnet for IP networking purposes.
So, the answer is /28 for IPv4.