This timeout value is a precaution to protect the system.
That’s why we can’t let the increase the timeout value by users.
If you need a long-running process; you can trigger your WLST script using a shell command.
That will cause an immediate return for the main process (Shell Script) but not for the child process (Triggered WLST Script).
Also, this type of usage means; The script is out of the control to WLSDM.