Why I'm Getting Internal Server Error on The Ansible Tower UI With 'psycopg2.errors.OutOfMemory: out of shared memory' Errors In the Logs?

Issue

The Ansible Tower UI is throwing internal server error with the following errors observed in the Ansible Tower /var/log/tower/tower.log and /var/log/tower/callback_receiver.log files.

    return executor(sql, params, many, context)
  File "/var/lib/awx/venv/awx/lib64/python3.6/site-packages/django/db/backends/utils.py", line 84, in _execute
    return self.cursor.execute(sql, params)
  File "/var/lib/awx/venv/awx/lib64/python3.6/site-packages/django/db/utils.py", line 89, in __exit__
    raise dj_exc_value.with_traceback(traceback) from exc_value
  File "/var/lib/awx/venv/awx/lib64/python3.6/site-packages/django/db/backends/utils.py", line 84, in _execute
    return self.cursor.execute(sql, params)
django.db.utils.OperationalError: out of shared memory

2021-02-12 08:49:14,779 ERROR    django.request Internal Server Error: /api/v2/users/77/personal_tokens/
Traceback (most recent call last):
  File "/var/lib/awx/venv/awx/lib64/python3.6/site-packages/django/db/backends/utils.py", line 84, in _execute
    return self.cursor.execute(sql, params)
psycopg2.errors.InFailedSqlTransaction: current transaction is aborted, commands ignored until end of transaction block