"Out of video memory" when created a new project

So I tried to create a new Blank project and when it loaded to 96% it crashed with the following error: “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…”

Any ideas why this happened?

It would be helpful to know which video card you have?

Seems to be your hardware is insufficient, what video card are you using, have you tried exiting all other applications and restarting your PC? You might also consider adjusting your cache in nvidia settings to unlimited if you use nvidia