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Is our hosting provider lying to me?

Magento 2.4.2-p1
Porto theme
Amasty extensions

I have a VPS Cloud4 account ($140/month) with the following specifications:

6 x 2.50 GHz Cores
16 GB ECC RAM
320 GB SSD Space
8 TB Bandwidth
cPanel/WHM/Softaculous
6000 Mbps Network Out

I have 2 accounts on there:

  1. Magento 2.4.2-p1 with about 2200 products
  2. New Magento 2.4.5 (same products) which I’m setting up to move all accounts over from the Magento 2.4.2-p1 when ready.

Neither of these have ever been optimized in any way. Every once in a while (about a couple of times a week), the server runs out of memory and ElasticSearch stops working which makes the categories not load (when customers click on them).

Our hosting company is pushing us to upgrade our hosting package. The next one going up is $219.95 / month and it has 32 GB of RAM. This really seems unnecessary?

Are there alternate solutions I could put in place? Is it possible to set up the hosting so that when ElasticSearch falls over, it would restart automatically and then the necessary commands would run automatically? Such as:

php bin/magento setup:di:compile 
php bin/magento setup:static-content:deploy -f