AE 2023 (23.2.1) UPDATE DID NOT FIX the CONSTANT LOW MEMORY WARNING

I'm on a brand new Mac Pro M1 and AE 2023 is killing me with the CONSTANT "Low memory" warnings. I see an earlier post saying that an update was supposed to fix it but it has not. It also said that anyone still getting this "low memory" warning should start a separate post for troubleshooting - so here's mine.  

This is destroying my work life as I battle this AE bug as I try and meet my deadlines. Can someone please help? 
 
I'm using AE 23.2.1

  Model Name: Mac mini

  Model Identifier: Mac14,12

  Model Number: Z170000G8LL/A

  Chip: Apple M2 Pro

  Total Number of Cores: 10 (6 performance and 4 efficiency)

  Memory: 32 GB

  System Firmware Version: 8419.80.7

  OS Loader Version: 8419.80.7