As you can see in this video, GTAV has a bad memory leak problem where assets continue to load in but old data doesn't get purged eventually causing terrible performance due to swap/compressing ram. You can see it here:
https://www.youtube.com/watch?v=JMNWzd4mTcI GPD Win 2 - GTA 5 - Grand Theft Auto 5 GTA V (Max Ram Used) - YouTube
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I had this issue a while ago and I found a way to fix it by modifying the registry. The Intel drivers have a way to report various amounts of VRAM to the system to fix problematic games and to change the amount of VRAM reported, you have to change the registry. What GTA V does before the fix, is that it looks at the total amount of shared VRAM that it can use. On my system with 8GB of ram, it's 4GB. You can see it here in this picture that it identifies 4030MB of shared VRAM total that it can use.
My THEORY (not 100% sure and may be 100% wrong) is that GTA V tries to take advantage of all that VRAM by caching textures into the VRAM. Let's say you drive into Paleto Bay. The game loads that area's textures into VRAM, then when you drive away from Paleto Bay, the game keeps those textures in the VRAM so that if you drive back there, it doesn't have to load the textures from the Hard Drive or SSD again. Over time, this adds up and eventually it will fill up that 4GB that it detects and thinks it has to use. Combine 4GB of VRAM usage and the normal RAM usage from GTA V + Windows + Any Background Applications and your RAM will probably run out very quickly. AGAIN, I am not sure if any of that is actually true but I do know that this issue is real.
After the fix, the game identifies 2GB of VRAM (which is what I set it to).
In this case, the game still caches textures, but not as much as when it thought it had 4GB of VRAM. This setup for me kept RAM usage around 6-7GB for me which made the game playable again.
I've attached 4 files to this post. A "Fix" file to apply the 2GB fix, and a "Revert" file to revert the changes back to default. This fix assumes that you have 8GB of RAM OR higher. I have 2 separate files to set the VRAM to 1GB and 512MB if you have less RAM or the 2GB fix doesn't work for you. The 512MB fix probably will not even try to cache textures so you may experience textures popping in and out.
BTW if this screws up your system, I am NOT RESPONSIBLE for anything that goes wrong with it. Do this at your own risk. It shouldn't cause any problems and I highly doubt that it will but if it does go wrong, I am not responsible for your system.