WiFi driver allocation fail when device is under heavy use

Occasionally we get the following output (or similar) on the serial monitor:

W (58892) wifi: alloc eb len=24 type=3 fail, heap:4150200

W (58892) wifi: m f null

After this, WiFi is non-functional.

Could this be a power related issue? as it seems to improve when all hardware peripherals are disconnected from the board.

This issue also occurs when firing many requests in quick succession at the WebApp HTTP server.