I have finally been able to complete the Benchmark with 16GB of RAM.
Adobe released an update for After Effects 24.0.1 (build 2) and it worked with this.
With plugin: PugetBench for After Effects 0.96.0
What else I changed...
I allocated more RAM for the Adobe After Effects application: 13 GB
RAM reserved for other applications: 3GB
Intel Arc Driver: 31.0.101.4887
Current version of Windows 11 as of todays date: 22621.2506
I also set the Windows Operating System Virtual Memory to System Managed sized
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