Memory leak when video is left paused leads to system hang

vlc version: 3.0.12-3 on Ubuntu 21.04

When a video is being played and then gets paused, vlc starts to drain memory until a complete system hang occurs.

Steps to reproduce:

- play a mp4 video (haven't tried with other formats yet)
- pause the video
- leave the vlc window open and switch to any other application
- in a few tens seconds/minutes at most, the system will hang

I had to switch to a virtual terminal by hitting ctrl-Alt-F3, login and then use top to show memory usage.
Xorg was consuming more than 100% CPU, while vlc was a little below.
I could switch back to the desktop only after killing vlc from the virtual terminal.