Out of memory? cant load into game from launcher without crashing or freezing

[Futurysm]

I have a lot of brand new components in my pc with plenty of ram, and drivers are updated. Cannot load into game without the game crashing or freezing forcing me to shutdown. I get an error saying, "OUT OF MEMORY TRYING TO ALLOCATE A RENDERING RESOURCE. MAKE SURE YOUR VIDEO CARD HAS THE MINIMUM REQUIRED MEMORY, TRY LOWERING RESOLUTION AND/OR CLOSING OTHER APPLICATIONS THAT ARE RUNNING" any suggestions?

[Arc]

Post basic specifications of your PC.

[Futurysm]

PC hardware used:
intel i9-14900KF CPU processor
Geforce RTX 4070 super 12GB video card
32GB DDR5-600Mhz RGB RAM
motherboard ASUS Z790
2TB M.2 NVMe SSD

[Futurysm]

so far i have tried the following:

updating nvidia drivers
increasing virtual memory
uninstalling and reinstalling game
disabling shader cache size in the nvidia control panel

nothing has worked so far

[Unjichun]

intel unreal engine 5 crash problem

[Futurysm]

is there a fix?

[Arc]

Have you updated BIOS of the motherboard yet seeing as you have Raptor Lake Refresh ?