Out of memory error but not out of memory

I've read all the out of memory errors and don't see anything related to rendering H.265, so thought I would ask. Getting an out of memory error when trying to render from AE out to Adobe Media Encoder as H.265 (but you knew that ;-)) The project is one hour long - a 4K (3840 x 2160) animaiton with no audio. The sequence originated in PP and was sent over via A Dynamic Link, but PP is now closed and no longer needed (just to give you the back story). Anyway, 32 GB memory wth no reports of any issues from the O/S.  Any suggestions? Project is due tomorrow.  Thanks for any insights. 

Export Error
Error compiling