Why Can't My Computer Perform 4K Renders?

Despite having a new computer with a 4070 graphics card and 32 GB of RAM, I am unable to render in 4K and higher. I’m getting an insufficient memory error. However, on my laptop, which has a 3060 graphics card and 16 GB of RAM, I can render in 4K without any issues. I’m having difficulty understanding the reason behind this problem on my new computer. Can you help me?