Getting rid of HPDeviceMonitoring
Uninstall all HP software from your computer. Usually the installer also provides an uninstaller. Prevent from automatic starting by removing those apps from Login Items under Users in System Preferences.

The HP print drivers from Apple directly are really good. And normally the official HP software is not needed to print, copy, scan etc..

There is a big memory leak in the software written by HP.. it has been for several years now. I have seen this issue many times.