I've reported on memory issues with the DNG Converter before, but it's getting worse and someone needs to tell the developers.
Today it failed to convert 11 images because it ran out of memory. This is on a 64Gb system with 32 threads (AMD Ryzen 9 3950X 16-core)
From the outside looking in - I'm pretty sure there is a memory leak. I'm guessing that it opens the Sony ARW files and doesn't free up memory after converting and writing the DNG to disk. So the more files it processes, the more memory it uses and pretty soon it runs out of memory. It had successfully converted 42 files before it started showing the "not enough memory" errors.
Before anyone suspects there was something wrong with the 11 images that it failed to process the first time, I re-ran the DNG converter and JUST those 11 images and it finished all of them very quickly and without error.
This is with version version 17.1.0.2100 set to:
Camera Raw 16.0 and later
JPEG Preview: Full Size
Embed fast load data
Don't use lossy compression
Preserve Pixel Count
Don't embed original