You can modify PHP Memory Limit as per your needs using CloudLinux PHP Selector in Plesk.
1. Log in to your Plesk account.
2. In the right-hand sidebar, click on PHP Selector.
3. Click on the Options menu.
Note: If the Options page shows an error related to the native PHP version, change it to a non-native version first.
4. Look for memory_limit and click on the drop-down option displayed in front of it. Then choose the appropriate limit as per your requirements.