A recurring LiteSpeed server overload, usually indicated by high CPU usage or frequent 503 errors, is most often caused by inefficient PHP or database operations rather than the LiteSpeed web server itself.
Do you have the LiteSpeed Cache plugin installed > https://wordpress.org/plugins/litespeed-cache/. You should configure the QUIC.cloud CDN Cache feature in LiteSpeed Cache.
What version of PHP are you running? You should be running at least PHP server version 8.1. You can change that in your web host control panel.
Your PHP memory should be at least 256K. You can change that in your web host control panel.