Running out of system memory CC V12.0

So I have been using Premier Pro for about a year and have had a few issues but nothing that I couldn't find a work around, however I have stuck on this one.

I have a project with multiple files both visual and audio, nothing unusual except for that some of them are shot at 12 frames per second, this requires me to interpret the footage as 120f/sec instead of 29.97, other than that it is a very simple project.

The issue: everything works fine up until a certain point, then the system freezes and eventually I get a message saying "You have run out of system memory" and I have to reboot after that. What I see is some kind of memory leak as the HDD paging file and RAM fill up for no apparent reason.

I am desperate to get this rather small project completed! Specs are:

Model Name: MacBook Pro

  Model Identifier: MacBookPro14,3

  Processor Name: Intel Core i7

  Processor Speed: 2,8 GHz

  Number of Processors: 1

  Total Number of Cores: 4

  L2 Cache (per Core): 256 KB

  L3 Cache: 6 MB

  Memory: 16 GB