Your screenshot shows the right menu, but you have 16-bit checked. You need to check 8-bit:
Loading Image
The next error shows your PSD is 59,900 x 82,500. That's way too large. It would take 19.767GB of memory to load each layer into memory.
The last error shows Spine is unable to allocation enough memory. This can happen if too much other stuff was loaded at the same time. It could also be a bug, if Spine does not free up memory when it should.