Yes,...

There is an article on the same problem here: https://www.mssqltips.com/sqlservertip/5279/sql-server-error-query-processor-ran-out-of-internal-resources-and-could-not-produce-a-query-plan/

What State did the error return? (1 or 2)

State 1 - The query timed out due to the...

drop table if exists #t1
drop table if exists #t2
drop table if exists #t3

go
set statistics io, time on
go
SELECT p.FIRST_NAME,
       p.LAST_NAME,
  ...

I've got a (8 years old) Dell XPS 8700 desktop with a  i7-4790 and 28GB RAM, and a SanDisk Ultra II 960GB SSD with the tempdb on...

Set up test data

set statistics io, time off
DROP TABLE IF EXISTS dbo.PATIENTS;

CREATE TABLE dbo.PATIENTS 
(
    FIRST_NAME        varchar(50),
...

Ah... I see my confusion here.  The op posted a recursive CTE where he said it wouldn't work  with the  word RECURSIVE  and Frederico said that RECURSIVE  is not...

I think you might want a recursive common table expression.

Something like this:

DECLARE @n int = 3;
WITH Factorial(F,n) AS 
(
    SELECT 1 ...

I think you might want a recursive common table expression.

Something like this:

DECLARE @n int = 3;
WITH Factorial(F,n) AS 
(
    SELECT 1   ...

You could do with reading this: How to post code problems

DROP TABLE IF EXISTS dbo.PATIENTS;

CREATE TABLE dbo.PATIENTS 
(
    FIRST_NAME  ...

If you use:

SET STATISTICS IO, TIME ON

you will also get the CPU usage for the query.

I think the following index should help performance:

 CREATE INDEX IX_OptionsEOD_1 
     ON dbo.OptionsEOD (UNDERLYING_SYMBOL, ROOT_SYMBOL, EXPIRATION, STRIKE, OPTION_TYPE, QUOTE_DATE)
INCLUDE (CLOSE_PRICE)
;

To increase the performance you could limit the rows the query in the CTE produces by selecting on the QUOTE_DATE  going back a given amount of days to when you...

Another option:

WITH CTE AS
(
    SELECT T1.UNDERLYING_SYMBOL,
           T1.QUOTE_DATE,
       ...

SELECT T1.UNDERLYING_SYMBOL,
       T1.QUOTE_DATE,
       T1.ROOT_SYMBOL,
       T1.EXPIRATION,
    ...

Yes you can, I've upgraded from SQL 2012 to 2019 by just restoring a backup.