The second error is a memory error code relating to the AI processes overwhelming your GPU and exhausting the VRAM. Your card is below the System Requirements for Video AI in the latest version but you can lower the max memory % in the Preferences Panel to try and keep it within stable limits.
Open the Preferences Panel and change the following settings.
File>Preferences>Processing
Ensure that your GPU is selected for the AI Processor - GTX 1060
Set the max memory to 80%
Set max processes to 1
Save the settings and close the panel.
Re-run your clip through the process that you were trying.