Media Encoder export issues to H264 when exporting insv files

I'm trying to export my video but keeps getting the error 'Encoding failed' OR the 'Your system has run out of application memory' which crashes my laptop. 

Im exporting in H264 1920x1080 25fps. The video is about 3.5 mins long and has 360 camera footage in it (insv files which i edit using proxies). 

Can anyone help solve this?

- I've tried using media encoder/premiere to export 

- Changing the encoding settings' Performance to software encoding