The GFUI seems to fall over at around 25,000 nodes.
Inkscape has a feature called Simplify Path, not sure if Illustrator has a similar feature, BUT this file appears to have been created from a low quality bitmap to begin with, so there is no reason to keep it as a vector.
Vector allows you to preserve a lot more detail for large engraves, but only if you have the vector source to begin with. That doesn’t appear to be the case here.