To resolve this error, it is safe to turn OFF logging for the ITAMService in internet information systems manager. The ITAMService will continue to log at the application level, just not in IIS. You can find the ITAMService.log at \Program Files (x86)\CA\ITAM\Application Server.
To turn OFF the ITAMService logging in IIS:
1. Launch internet information systems manager
2. Expand the IIS left treeview until you see the Default Web Site or the APMWebSite (depending on where you installed APM)
3. Highlight the ITAMService node
4. In the center, double click the 'Logging' icon
5. In the far right pane, click on 'Disable'
6. Restart IIS
7. Restart all the CA Asset Portfolio Management services.
IIS should now produce a much smaller log file.