Overcommitting is not an ideal solution for general memory issues. The recommended methods to deal with memory shortage are to allocate less memory per guest, add more physical memory to the host, or utilize swap space.
A virtual machine will run slower if it is swapped frequently. In addition, overcommitting can cause the system to run out of memory (OOM), which may lead to the Linux kernel shutting down important system processes. If you decide to overcommit memory, ensure sufficient testing is performed. Contact Red Hat support for assistance with overcommitting.