I am having exactly the same issues - host CPU is a Celeron J6412 (Protectli VP2420), the Proxmox 8.0.3 host is running 2 VMs and is lightly loaded. This is my first Proxmox host, moving away from ESXi, so the setup is fairly vanilla.
The first VM, pfSense firewall, runs perfectly with no issues whatsoever. The Ubuntu 22.04.3 VM crashes sporadically, generally through the night it seems and when it has crashed the memory is always maxed out and one CPU is running 100%. As a test I increased the guest RAM from 8GB to 16GB and the crashes happen less frequently but still do happen.
@JohnBee Where did you disable power savings? In the Ubuntu guest or in Proxmox host? Any clues to what you did gratefully received.