From an old ticket, Adam response was :
The litespeed error log will show you it happening in /var/local/enhance/openlitespeedlogs/error.log but it won't show you why it happened. A 503 means OLS couldn't connect to your PHP worker.
But, he suggest to run when the 503 happens :
top -b -n 1
which will help to investigate what's/who eating the resources.
Other members of the forum may have more experience to direct you, but I suggest to add some limits to the websites, cPFence has a good article about this (first two steps, no need for cPFence itself) :
https://my.cpfence.app/knowledgebase/56/How-to-Address-High-Server-Load-Issues-with-cPFence.html