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I use Lite Speed Cache plugin for my WordPress website on the Open Lite Speed server (Vultr VPS).
Every time I update any plugin or page my website freezes and even crushes. I get automated from my SMTP that says “Your website is Experiencing a Technical Issue”.
It seems that issue is somewhat related to JS optimization or object cache, but I am not sure.
If anyone here knows what can be an issue, and how to fix it – please share it. Thank you.

This may sounds related to some misconfiguration in PHP/MySql maybe memory limit reached (?). You should debug the issue, have you tried to enable wp_debug? Then check debug.log file on /wp-content/ folder, what does it says?
Also if it just freezes for a bit but you can still access wp-admin you might try Query monitor plugin to check wether is a query the culprit
Can you check if your database tables use MyISAM engine?