Recent update causing massive memory use?

So basically, my game has been working fine until just recently, and I’m suspecting at this point it’s because of one of the recent updates.

The problem is, whenever I try to join a game or start one offline with more than just a few mods, I somehow run out of memory while loading. And its not Gmod running out, It’s my entire PC.
This is particularly strange because I’ve read that as a 32 bit program, Gmod should not be able to utilize more than 4gb or RAM, and by default (without changing a launch option) it can only utilize two.
Now what’s very strange about this is the fact that my computer has 8gb of RAM, meaning obviously, that Gmod can’t utilize more than half. I specifically make sure to end all high load processes, and can usually get the RAM usage down to about 25-30%. Now you’re like seeing whats wrong. I’m launching a game that shouldn’t be able to use more than half my RAM, with around 30% being used at launch, and somehow during the loading process, the usage goes up into 90%, and windows forces me to close the program.
It’s also strange that when viewing memory usage in the task manager, it goes up gradually and generally sits at around 65%, and then after a couple of minutes, it will start rapidly rising until it hits the point where is forced to shutdown.
This is also strange because Gmod should never even have to use more than 2gb of RAM, yet when I haven’t entered the launch option to allocate 4 (-heapsize ***000), its Gmod itself that runs out of memory, Not my PC (Lua Panic!).

To be specific about usage, in the task manager, the actual process is never listed as using more than 1,200mb (or at least the maximum is only ever slightly above that), so how I am running out of memory when that is the case, I don’t know.
Also I’ve tried with anywhere from around 300 to 400 addons (i know its a lot)
The actual amount isn’t the problem, as I know I can play with just a few, and my PC could handle this many addons just fine before, hence me suspecting it was a recent update.

Acer Aspire V5-552G
AMD A8-5557 3.1 GHz
AMD Radeon HD 8750M
Windows 8.1 64-bit

I know it’s not the greatest, but it was as I said enough to handle the load before.

List of things I have tried (PLEASE READ BEFORE RECOMMENDING):
Reinstalling all the addons
Deleting addons folder in Garry’s Mod\garrysmod
Deleting all relevant folders in Garry’s Mod\garrysmod\ (addons, cache, models etc.)
Reinstalling the game
Disabling/enabling all addons within Gmod
Allocating up to 4gb or RAM as apposed to 2gb

Posting here is essentially the last thing I can think of.