Metals (at least on arch linux) defaults to a heap size of -XX:MaxRAMPercentage=25.0, which can be quite significant. This can be customized by setting the METALS_JAVA_OPTS environment variable when launching metals.
lsp-metals could provide a defcustom where such JVM options can be configured.
As for implementation, that might not be obvious, since lsp-stdio-connection expects a single command with arguments. env or bash could be used here, but that would be linux-specific. Not sure how to do that platform-independently.