The error is indeed an hardware error but it's not exclusive of a physical fault. If it was hardware 3DMark Benchmarks and Battlefield V would have killed my computer by now. No diagnostic tool or Windows Event, hint for a problem.
Thanks for your replies. If you guys have any more suggestions please tell me as I don't know what else to do. I'm beliving it's a compatibility issue with my hardware that's for sure. It only happens with Arma. The CPU and GPU are pretty recent. Probably the drivers are faulty for "older" games. I don't know, it's a shame...
EDIT: I've reduced the video options from high to standard. Been playing for the past 1h30 with no crashes. Regarding the bluescreen, it's related with intel hardware (most likely the processor) can you guys help me figure out which video options can cause high processor load? Particles, View Distance and Shadows or should I be focusing on others?