Hello David,
I personally have not run into any memory leak issues while using PM2, but I am sure that it does suffer from memory leak issues as does most software built on top of C or C++. I wouldn't say that it would render the tool unusable in production. It's inconvenient, but the best that you can do is open up a ticket and work around the issue while a fix is being implemented if the memory leak is causing critical issues. One possible workaround is to restart the application if active memory is running low.
Best,
Amir