Whenever a frame renders, the task manager shows roughly the same amount of RAM usage for both Octane and XSI:

However, the amount of committed memory keeps on increasing throughout the render and with every frame:

I think this memory leak actually occurs in XSI because the amount of committed memory only goes down by about 500 MB whenever Octane closes. After frame 12, I hit Cancel on the Render. The memory amount was 6,000 MB with Softimage still open. Closing Softimage brought this down to 1,200 MB.
I've never seen this kind of behavior in Softimage, so I assume it has something to do with the plugin? It causes the render to crash after about a dozen frames on my system.