I'm working on an Ignition Perspective dashboard in Ignition Designer (trial mode) using SQL queries and various bindings. I’ve been running into some issues like Designer freezes frequently, and none of the buttons respond, Read Timeout and lost connection to gateway.
What types of components are you using and how many? I see your prop has a dataset with 10000 rows 
I havent use the dashboard component before and I assume this might be it, but I'm sure its dying because of the size of that dataset
Note the error code: "Out of Memory"
Raise the allowance for the designer, at least, and maybe the gateway, too (in ignition.conf). If running gateway and designer on the same machine, don't.
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I am using 4 drop down components, date time input component and a xy chart component. It worked with 50k rows of dataset so I don't think 10k rows of dataset is going to affect it
Could you please provide a clearer explanation. Also Have you ever faced this kind of issue?
An Ignition gateway, with load, is a memory and CPU hog. An Ignition designer can also be a memory and CPU hog, particularly on small systems. Don't use a designer on the same machine as the gateway.
Yes, I have faced this on wimpy systems, where the designer took enough OS memory to crush the gateway service.