pg_dump --binary-upgrade out of memory

Hi.
I encountered the problem of not being able to upgrade my instance (14->15)
via pg_upgrade.
The utility crashed with an error in out of memory.
After researching a bit I found that this happens at the moment of export
schema with pg_dump.

Then I tried to manually perform a dump schema with the parameter
--binary-upgrade option and also got an out of memory.
Digging a little deeper, I discovered quite a large number of blob objects
in the database (pg_largeobject 10GB and pg_largeobject_metadata 1GB (31kk
rows))
I was able to reproduce the problem on a clean server by simply putting
some random data in pg_largeobject_metadata

$insert into pg_largeobject_metadata (select i,16390 from
generate_series(107659,34274365) as i);

$pg_dump --binary-upgrade --format=custom -d mydb -s -f tmp.dmp
and after 1-2 min get out of memory ( i tried on server with 4 and 8 gb RAM)

Perhaps this is a bug? How can I perform an upgrade?