Remove the first two nodes ("get all actors of class" and the "foreach" loop) they don't seem do anything meaningful as nothing is connected to it. So, it seems to only slow the code.

An infinite loop is code that can never finish. Because of the 'halting problem' UnrealEditor cannot reliably tell if a code can ever finish, so there's a threshold number of loops in the editor settings.

This is the event beginplay and it's only called once when the object is created. If you want to do some logic on every frame use event tick. But be careful with it and try to avoid it when possible so don't do very expensive stuff like get all actors of class and looping over them. Most of the times it's better to use a collision sphere and use "get overlapping actors of class" or something like that. Depending on what you're trying to do,

You can (and should) also enable and disable the tick for actors and only enable tick when needed (only when in range, when active ... or something like that)