Nobody can tell you anything without proper system info or other technical details.
GTX 750 Ti Black Edition
64-Bit operating system
128 GB SSD
Which operating system? I assume Windows, but is it 7, 8, or 10? And what service packs or updates have been applied?
How much RAM do you have?
You say (very vehemently) that it's not a cache or multiprocessing issue, but you haven't specified what you've tried to ensure that it's not. And, while I also don't think it's an issue with either of those things, a screenshot of your memory and multiprocessing settings would be helpful, but I'm interested more in the memory end of things.
Very importantly, which version of AE are you using (down to the last decimal)? It's obviously not the latest one (or even a very recent version), but other than that, we can't know.
You also haven't shared anything about your composition settings or the contents of the composition.
The error message seems to indicate you've got a rather large image in there or some combination of effects you've applied is trying to create one.
See this page to get a better idea of what we would need to know to help you: FAQ: What information should I provide when asking questions?