Error code: Out of Memory

Hello. I have used BeTheme in the past and am a huge fan of the theme. I just purchased a new license for the BeTheme to use on my brand new WordPress install for another client. I installed a pre-built demo theme that I've never used before, Charity 4. When I try to make any changes in the Theme Options tabs the following error page is shown:

My memory is at 256MB and I have a brand new site install. I've already checked with my hosting provide and I am only using 1-2% of my hosting server's resources. I also cleared my LiteSpeed Cache and verified that I am not using any additional caching plugins/features. Can you please assist me with this issue? Thank you!

Development site: https://snow-snail-874358.hostingersite.com/

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