Your server is not optimized because old CMS collector is used. See the difference between CMS and ZGC.
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ZGC is latest collector recommended for production (low latency, low GC pauses).
So as an optimization, you can:
1. Install Java 14.
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2. Configure ZGC.
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Please note. If you did something wrong, server may do not start properly.
So you have to test on a different server or be ready to a downtime.
Expected results:
1. java -version
should return java 14
2. wcs-core.properties should be formed according docs
3. GC Logs should look like ZGC logs.
Please note. ZGC ensures low pauses by higher CPU load. Therefore if you have not enough CPU, you have to stay on CMS.
Message "Allocation Failure" is normal work of CMS. Frequent messages "Concurrent Mark" and "Final Remark" say that CMS collector is overload and may need an optimization updating to ZGC.