To be blunt, it's 2024. 1GB is no longer "a lot", especially for a media intensive application like LaunchBox. You're actively showing another app using almost 6GB ;D. Secondly just because a task shows memory in use in task manager doesn't mean its actually using that full amount on actual RAM. The operating system will push some of the more stagnant bits of data to your page file automatically when the app is in the background and the memory in use is needed.
That being said if you really want to try and reduce the memory footprint you can switch to list view, which should save memory since we aren't loading images. Can also try different themes, as they can display things in a way that takes even more RAM or just has more stuff displayed. You can also hide the game details. Also if trying to pinch RAM Big Box operates far more lean since it doesn't have to load DB definition files that LaunchBox uses and so tends to operate at quite a bit lower usage.