Hello Sharma,
I believe there is a thread open on the same topic with the customer support. Without knowing your code and what you see in your logs, here are some pointers:
1. We have customers in production with AEM Commerce and I/O Runtime and there were no issues reported
2. While working with these customers in pre-production, the latency or time-out problems were always related to the downstream service (the Commerce platform). For example, rate limiting or slow response. You should be able to track this, by logging from your actions. This way you know exactly when the execution started and when the response came back from the commerce system.
Can you add more details on the ticket open with the customer support? I don't think we've got additional info.
Thank you,
Mihai