The cursor: pin S wait on X wait event suggests contention for a cursor pin, which is associated with mutexes (a type of locking mechanism) that protect the library cache to prevent concurrent modifications. This issue can often be alleviated by deferring the invalidation of cursors until the end of the call to reduce contention. The correct command to use would be:

C (Correct): ALTER SYSTEM SET CURSOR_INVALIDATION=DEFERRED; This setting defers the invalidation of dependent cursors until the end of the PL/SQL call, which can reduce the cursor: pin S wait on X wait events.

The other options are incorrect in addressing this issue:

A (Incorrect): Setting CURSOR_SHARING to FORCE makes the optimizer replace literal values with bind variables. It doesn't address the contention for cursor pins directly.

B (Incorrect): CURSOR_SPACE_FOR_TIME=TRUE aims to reduce the parsing effort by keeping cursors for prepared statements open. It may increase memory usage but does not directly resolve cursor: pin S wait on X waits.

D (Incorrect): Increasing SESSION_CACHED_CURSORS caches more session cursors but doesn't necessarily prevent the contention indicated by the cursor: pin S wait on X wait events.

References:

Oracle Database Reference: CURSOR_INVALIDATION

Oracle Database Performance Tuning Guide: Reducing Cursor Invalidation