[Resolved] Failed to parse because your job is above file limit of 1MB

Background of the issue:
I am trying to translate a page on my site using WPML. The page in question is hidden link.

Symptoms:
I receive an error message: 'Failed to parse because your job is above file limit of 1MB' when attempting to load the translation.

Questions:
Why is the translation of the page not loading?
How can I resolve the 'Failed to parse because your job is above file limit of 1MB' error?