S3 does not guarantee latency. Every once in a while a request may straggle and drive latency up for the greater procedure. In these cases, simply timing-out the individual request is beneficial so that the client application can retry. The retry tends to complete faster than the original straggling request most of the time. Others experienced this issue too: https://arxiv.org/pdf/1911.11727.pdf .
S3 configuration already provides timeout facility via `ClientConfiguration#setTimeout`. Exposing this configuration is beneficial for latency sensitive applications. S3 client configuration is shared with DynamoDB client which is also affected from unreliable worst case latency.