If composer is installed globally on MacOS Catalina run:
php -d memory_limit=-1 /usr/local/bin/composer update --no-plugins
OR
Putting COMPOSER_MEMORY_LIMIT=-1 in your .zshrc (not .bashrc as since 2019 MACOS ships with zsh shell as default) file works for some people -> although I have not tested this version of the fix myself.
OR
Override temporarily with:
COMPOSER_MEMORY_LIMIT=-1 composer install