Getting error message on blank project previous problem with freezing 5.6.

Error message

out of video memory trying to allocate a rendering resource. Make sure your video card has the minimum required memory. Try lowering the resolution and/or closing other applications that are running. Exiting…

SPECS

PNY RTX 4070 Ti

AMD Ryzen 5 5600

MSI MAG B550M BAZOOKA

DDR4-3602 / PC4-28800 DDR4 SDRAM UDIMM

SAMSUNG SSD 850 EVO 500 GB

WD BLACK SN 770 1 TB

THE PROBLEM:

Engine freezes whenever I try to do any action in the editor, move a mesh, make a folder, open or close content folder, often for whole minutes and sometimes indefinitely. It is basically completely unusable. Im new and started this course on blueprints.

Disk usage goes to 100% and stays there for the duration of the freeze.