This is a temporary fix to remove that error message and remedy any stuttering/lag you may be experiencing. To truly fix this issue permanently, you will to better optimize your project or upgrade your hardware.
https://dev.epicgames.com/community/learning/tutorials/yrl7/unreal-engine-5-how-to-fix-video-memory-has-been-exhausted-temporary-fix-for-development
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Thank you, I was already about to uninstall UE.
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Thanks, very useful for optimization and performance! 
solved my problem! thank you my gtx 1060 3gb thanks you
I fixed it by lowering the streaming pool size using this command: r.Streaming.PoolSize xxxx
Replace the “xxxx” with the amount of MB. 3000 worked well for my project, but it’ll depend on your project and graphics card