We are using GroupDocs Viewer 17.5 with ASP.NET_WebForm_Front_End.
We are delighted to inform you that the issue mentioned in this topic has been resolved and its fix is available in GroupDocs.Viewer for .NET 17.8.0.
The issue was occurring because the first sheet of your provided Excel document contains a huge number (1048576) of empty rows (see this) and the API was trying to render the complete worksheet. To tackle this situation, we have introduced a new feature that ignores the empty rows in the Excel worksheet. To see how to ignore the empty rows, please visit this article. In case you find any thing difficult for you, please do let us know.