Final Cut Pro running out of system memory Macmini M1

Hi I have final cut 10.5.2 running on macmini M1 with thé latest os with 16 gb’ memory, and final cut keeps on bringing up an error message saying it’s runout of system memory’ I’ve cleared preferences’ have about 80 gb free space on my main drive and all the files and rendering on an external ssd’ Samsung and sandisk…

when I run activity monitor ´ its shows final but using an enormous amount of ram’ any help out there please ?