Elasticsearch 7.x circuit breaker – data too large – troubleshoot

The problem:
Since the upgrading from ES-5.4 to ES-7.2 I started getting "data too large" errors, when trying to write concurrent bulk request (or/and search requests) from my multi-threaded Java application (using elasticsearch-rest-high-level-client-7.2.0.jar java client) to an ES cluster of 2-4 nodes.

My ES configuration:

Elasticsearch version: 7.2

custom configuration in elasticsearch.yml:   
    thread_pool.search.queue_size = 20000  
    thread_pool.write.queue_size = 500

I use only the default 7.x circuit-breaker values, such as:  
    indices.breaker.total.limit = 95%  
    indices.breaker.total.use_real_memory = true  
    network.breaker.inflight_requests.limit = 100%  
    network.breaker.inflight_requests.overhead = 2  

The error from elasticsearch.log:

    {
      "error": {
        "root_cause": [
          {
            "type": "circuit_breaking_exception",
            "reason": "[parent] Data too large, data for [<http_request>] would be [3144831050/2.9gb], which is larger than the limit of [3060164198/2.8gb], real usage: [3144829848/2.9gb], new bytes reserved: [1202/1.1kb]",
            "bytes_wanted": 3144831050,
            "bytes_limit": 3060164198,
            "durability": "PERMANENT"
          }
        ],
        "type": "circuit_breaking_exception",
        "reason": "[parent] Data too large, data for [<http_request>] would be [3144831050/2.9gb], which is larger than the limit of [3060164198/2.8gb], real usage: [3144829848/2.9gb], new bytes reserved: [1202/1.1kb]",
        "bytes_wanted": 3144831050,
        "bytes_limit": 3060164198,
        "durability": "PERMANENT"
      },
      "status": 429
    }

Thoughts:
I'm having hard time to pin point the source of the issue.
When using ES cluster nodes with <=8gb heap size (on a <=16gb vm), the problem become very visible, so, one obvious solution is to increase the memory of the nodes.
But I feel that increasing the memory only hides the issue.

Questions:
I would like to understand what scenarios could have led to this error?
and what action can I take in order to handle it properly?
(change circuit-breaker values, change es.yml configuration, change/limit my ES requests)