Hello there,
Does your table have a primary key or a clustered index? There is a known issue in the wizard/PowerShell that may cause it to run out of memory, if the table does not have a primary or a clustered index, so one workaround could be to create a primary key/clustered index, if you don't have it already.
You can also try to use 64-bit PowerShell. Using 32-bit PowerShell instead of SSMS will likely not help, as SSMS and PowerShell use the same library (DacFx) to support most Always Encrypted scenarios.
Hope this resolves your Query !!
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