Yeah it's clearly broken and the devs don't know what they are doing on PC or RT. It's a steaming pile of shit in performance and here we are discussing memory limits.. I mean yeah, if it looked like it was optimized and visually pushing for that VRAM usage, then sure, but it really doesn't. There's a wave of shit ports on PC lately.
If a game like plague tale requiem which is DRIPPING with high quality textures at every pixels doesn't choke a 3070, while yours looks like a PS4 game and does, then you fucked up.
Dead space memory management quirks found by digital foundry, Hogwarts legacy, calisto protocol, plague tale before patch, forspoken.. what a bad wave of ports. I hope Returnal is not on that list.