I seem to be having the same issue, except that I never got the initially-reported STATUS_ACCESS_VIOLATION, possibly because I never used the -noLogs parameter. The steps to reproduce the bug are the same, namely:

• If run in 64-bit mode, Arma 3 loads, but when I run Old Man, the game crashes to desktop at the end of the first loading screen.
• If run in 32-bit mode, I can run Old Man, which seems to work normally (although I didn't spend much time testing), but crashes during the "Saving Game" pause after sleeping. This also crashes to desktop, but produces the following message in a error dialog before the Arma crash reporting tool appears:
  • Out of memory (requested 0 KB). footprint 2665422848 KB. pages 294912 KB.