Timed out error appears when your website is trying to do more than your server can manage ie when your memory limit is restricted.
Increase the maximum execution time in your php.ini file. This is not a WordPress core file so if you are not sure how to edit it, contact your hosting provider to ask them to increase your maximum execution time.
You should talk to your hosting provider to ensure the following requirements for any premium theme –
Recommended PHP configuration limits are as follows:
max_execution_time 60
memory_limit 128M
post_max_size 48M
upload_max_filesize 48M