Defender for Endpoint causes issues with Windows 10 20H2 clients (April 26, 2022)
The high memory usage issue is likely being caused by a memory leak bug. The problem is apparently not new and Microsoft had fixed the issue once earlier (via Reddit). The company states that the issue started with signature build 1.363.177.0 (via Jay on Twitter). However, the bug has apparently returned and it looks like the earlier resolution may have been a temporary one only.
The high memory usage by Defender’s “Antimalware Service Executable” process (MsMpEng.exe) is a quite common bug and sometimes a temporary workaround to reduce the memory consumption is to disable the Real-time Protection.