the player charater memory size is 700 mbs...is that BAD for memory optimization or RAM?

I am checking a game template from UE marketplace
the player character size is about 700 mbs of memory
the AI enemies are abour from 600mbs to 1.5bg of memory
i dont think it is optimized, because in my own projects my player charatcter memory size is usually less than 150 mbs

is a 700mb player charatcer size optimized for games?

It’s not really possible to say. Where is that memory going? Is this uncompressed textures, or compressed? Is it using 4k or 8k textures, and if so, how many? Do you need that level of detail?

Anyone who starts a higher-end game today will target a PC with at least 32 GB of RAM and 8 GB of VRAM. Assuming 700 MB is all compressed VRAM assets (seems unlikely, but, possible) is it reasonable to spend 8% of your total budget on the main character? Sometimes it is, sometimes it’s not.
For a character-driven story game, absolutely! For a MMO with 100 characters on the screen, not so much.