Snapshot Managed Backups Taking All Server Resources and Timing Out

I have been trying to make a Cloud "Managed" backup using Snapshot Pro, but I see in my server stats that when I start backing it up, my server CPU jumps to 100% and I shortly get

The server is temporarily unable to service your
request due to maintenance downtime or capacity
problems. Please try again later.

In Snapshot.

I run on a 1GB of RAM, 1 CPU, CloudWays Server.