By default all Plesk domains are created in shared IIS application pool. Technically, this means that they will be handled in one process w3wp.exe. This pool is 32-bit, so this process is really limited to 4Gb of memory (for this process!).
If you have lot of memory, you should think about dedicated IIS pools. If you enable dedicated pool for subscriptions, then every subscription will be served in separate process. Every process will have limit of 4Gb, and I suppose, you will have better memory consumption by your server in this case.
This can be switched on server level (by changing policy) or manually for every subscription. You can start with most traffic-loaded subscriptions manually.