Description of problem:

governance-policy-framework pod crashlooping on managed cluster

After updgrading ACM to version 2.7 the governance-policy-framework pod crashlooping on the managed clusters and reporting an OOM. 

ACM 2.7

Number of Policies: 14

Number of events: 24k+

Version-Release number of selected component (if applicable): ACM 2.7

How reproducible: Consistent in customer's environment

Steps to Reproduce:

1. Create enforced policies

Actual results: Large number of events leading to OOM errors

Expected results: "Normal" event count

Additional info: Part of the issue may be related to https://issues.redhat.com/browse/ACM-3109 but engineering has pointed out "it doesn't explain the extra events on the (relatively simple) policy to create that namespace."