Resolution:
The Active Spaces OPERATION_TIMEOUT exception is generic and is thrown for various reasons.

1). When AS Space is initialized but not in ready status.

2). When CPU usage is high.

3). When swapping happens due to low memory.

4). If there is a significant delay in getting a response from the cache node due to any possible network issue.

5). When cluster quorum state is not reached.

6). This can also occur if the machine is low on resources.

7). If database operations are taking a long time, the AS would protocol time-out the user operations.

8). Unable to lock a membership space on start up.