The issue here is the same as Failed to allocate bytes exception when running Docker on aarch64 and caused by kernel compiled with 39-bit address space.
Ubuntu and other distros usually don’t have these issues, but Raspberry PI OS/Raspbian/Debian do hit it.
See Crash on runtime upgrade related to wasmtime (Raspbian only) · Issue #12538 · paritytech/substrate · GitHub and links mentioned there for details and things you’d want to change for kernel recompilation to fix this on current distro you’re using.