For both 32-bit and 64-bit OpenEdge clients MEMPTR data types are limited to 2GB. Trying to use COPY-LOB with MEMPTR objects with a size greater than 2GB, or setting a MEMPTR's size to a value greater than 2GB will raise errors 15747 or 11394.
Similarly, for both 32-bit and 64-bit OpenEdge clients LONGCHAR objects are limited to 1,073,741,823 bytes, which is one byte less than 1GB. Trying to use COPY-LOB with a LONGCHAR that contains 1GB (1,073,741,824 bytes) or more is likely to raise the error 11327. The fact that that the documentation suggests MEMPTR's and LONGCHAR's can be any size is a documentation bug (OCTA-19612).
The OpenEdge client allocates memory for MEMPTR's and LONGCHAR's as a single contiguous chunk. Therefore there must be contiguous free address space of equal or greater size in order to create the MEMPTR or LONGCHAR object. Total free space greater than the required size alone, is not sufficient. In 32-bit OpenEdge versions the largest possible process address space is 2GB in Microsoft Windows, but can be more in Linux. However much of the address space can be fragmented and used for other purposes. If the object creation fails due to lack of available contiguous memory, then this is likely to raise error 11325:
Couldn't allocate memory for copying a large object. (11325)