Latest Premiere (not Beta) uses 61GB RAM -> "out of application memory" (Mac Mini M1, 16GB RAM)

I'm using Premiere on a Mac Mini M1 with 16GB RAM.

The following problem happened a lot for me with the Beta for the last several months, but I figured it would go away once the M1 support landed in non-Beta.

So I've switched to the latest Premiere 15.4.0. While editing, about once a day, the memory usage suddenly jumps to ~60GB, the cursor beach-balls, and the "out of application memory" OS warning window pops up, and I have to force-close Premiere. I save often so I usually don't lose a lot of work, and just re-open.

I have 2 sequences open, and they aren't particularly big or long, and the project doesn't have an especially high number of clips or anything (I can give more specifics if you need them).

My prefs are set to "Optimize for Memory" and reserve 8 of 16GB for "other applications".

How can I help the Premiere team to trouble-shoot? Are there any logs or anything you'd want to see to figure out what causes the memory jump?

Thanks