by grouping, I meant what you understood there:
Some clips use the same FX chain so they could be made to share those by being placed on the same track with a track effects chain. Still, that would amount to 40+ tracks which is too many for a convenient workflow in WL.
though not lots of RAM, just 8GB.
8 MB is not bad. But it’s not possible to see what is the impact of hundreds of plugins. This depend on plugin.
As far as I can see, super clip (great feature!) could be it if only it allowed rendering its constituent clips as individual files.
If you divide your mega montage in eg. 4 parts, 1 hour each, then you reduce the problem, maybe.