3127377 - Accessing COSP, COSS, COEP and COVP via SE16 will cause "column store error: search table error: [9] Memory allocation failed "SQL dbsl rc: 99"

When executing transaction SE16 or SE16N even with a small record limit against a complex view, like a SAP S/4HANA compatibility view, the query runs long and consumes high amounts of CPU and memory and leads to (composite) out-of-memory situations on SAP HANA. The ABAP dump looks as below:

Category               External Error
Runtime Errors         DBSQL_SQL_INTERNAL_DB_ERROR
Date and Time          01.12.2021 10:13:30

 Short Text
     SQL error "SQL code: 2048" occurred while accessing table "COVP".

 What happened?
     An internal error has occured on the database while preparing or
     executing an SQL command. You can find more details from the SQL
     error.

     Database error number: SQL code: 2048
     Database error text: "SQL message: column store error: search table error:
      [9] Memory allocation failed; exception 1000002: Allocation failed #exception
      throw location:# 1: 0x00007f5f8bf2c1da in
      TRexUtils::BitVector::mallocVec(unsigned long)+0xf6 at BitVector.cpp:99
      (libhdbba"