Out of memory error while running gradlew assembleRelease - react-native

I am getting this error while making a release build for my react native project:

Expiring Daemon because JVM heap space is exhausted
    
> Task :app:transformDexArchiveWithDexMergerForRelease FAILED

FAILURE: Build failed with an exception.

* What went wrong:
Execution failed for task ':app:transformDexArchiveWithDexMergerForRelease'.
> java.lang.OutOfMemoryError (no error message)

Done some research and made some changes, which are below:

1. Added android:largeHeap="true" to the application tag in the AndroidManifest.xml

2. Added

   dexOptions {
       javaMaxHeapSize "4g" 
   }
   

   in the android/app/build.gradle file.

3. Added the below code to gradle.properties

   org.gradle.jvmargs=-Xmx4096m -XX:MaxPermSize=4096m -XX:+HeapDumpOnOutOfMemoryError
   org.gradle.daemon=true
   org.gradle.parallel=true
   org.gradle.configureondemand=true
   

Still I am not able to get rid of this error. Any permanent way to get rid of this error and how is it caused??

configuring gradle.properties:

org.gradle.jvmargs=-Xmx4096m -XX:MaxPermSize=4096m -XX:+HeapDumpOnOutOfMemoryError
org.gradle.daemon=true
org.gradle.parallel=true
org.gradle.configureondemand=true

Although the given answer did not work for me, it did lead me to the correct path. Sometimes the build would go through but then again after some time this error would resurface, so to resolve it once and for all:

First comment org.gradle.jvmargs=-Xmx4096m inside your project's gradle properties.

Add the following in your app/build.gradle:

android {

  dexOptions {
    javaMaxHeapSize "4g"
  }

}

Now edit your global gradle.properties for mac it'll be inside Home/YOUR_USERNAME/.gradle/ Note that .gradle is a hidden folder.

If the file is not there simply create it and add

org.gradle.jvmargs=-Xmx4096m -XX:MaxPermSize=512m -XX:+HeapDumpOnOutOfMemoryError -Dfile.encoding=UTF-8