Wordpress Site on digital ocean frequently returns 504 Gateway Timeout

I had a similar issue in the past with a Laravel application and I was able to fix it by reducing the workload on pulling info from the DB.

But this time is a WordPress application hosted on Ubuntu 20.04 (LTS) x64 1 vCPUs 1GB / 25GB Disk I get this 504 Bad Gateway error 3-4 times daily and each time this error occurs, the site is down for about 5-10 minutes.

Here is the output from free -m

              total        used        free      shared  buff/cache   available
Mem:            981         741          69          80         169          40
Swap:             0           0           0

And the output I get from mpstat

Linux 5.4.0-51-generic (ubuntu-s-1vcpu-1gb-nyc1-01)     02/05/21        _x86_64_        (1 CPU)

21:59:40     CPU    %usr   %nice    %sys %iowait    %irq   %soft  %steal  %guest  %gnice   %idle
21:59:40     all    3.59    0.02    1.17    0.63    0.00    0.06    0.02    0.00    0.00   94.52

And lastly the output from iostat 1

avg-cpu:  %user   %nice %system %iowait  %steal   %idle
           0.00    0.00    0.00    0.00    0.00  100.00

Device             tps    kB_read/s    kB_wrtn/s    kB_dscd/s    kB_read    kB_wrtn    kB_dscd
loop0             0.00         0.00         0.00         0.00          0          0          0
loop1             0.00         0.00         0.00         0.00          0          0          0
loop2             0.00         0.00         0.00         0.00          0          0          0
loop3             0.00         0.00         0.00         0.00          0          0          0
loop4             0.00         0.00         0.00         0.00          0          0          0
loop5             0.00         0.00         0.00         0.00          0          0          0
loop6             0.00         0.00         0.00         0.00          0          0          0
loop7             0.00         0.00         0.00         0.00          0          0          0
vda               1.00         0.00         4.00         0.00          0          4          0

Thanks