https://bugs.winehq.org/show_bug.cgi?id=46829
--- Comment #4 from Ken Thomases ken@codeweavers.com --- Yeah, this log also indicates it's running out of address space:
libc++abi.dylib: terminating with uncaught exception of type std::bad_alloc: std::bad_alloc
This is a general issue with 32-bit graphically-intensive games, especially on macOS where the memory for OpenGL resources comes out of the process's address space. Your best bet is to reduce graphics quality in the game's settings, especially texture quality.
If and when Wizard101 comes out with a 64-bit client, that problem will go away.