"Your route exchange has failed. Resource Error [Read timed out]" when executing custom service with ODataConnector in ThingWorx Navigate

• Unable to execute custom service with error Read timed out of ODataConnector as shown in below screenshot:

Your route exchange has failed.  Resource Error [Read timed out]

• Integration runtime service reports following error:

ERROR c.t.i.r.IntegrationEngine - Exchange process failed with exception thrown : Your route exchange has failed.  Resource Error [Read timed out]
java.lang.RuntimeException: Your route exchange has failed.  Resource Error [Read timed out]
at com.twx.integration.route.exceptions.ExceptionHelper.convertToRuntimeException(ExceptionHelper.java:77)
at com.twx.integration.route.IntegrationEngine.dispatchRoute(IntegrationEngine.java:164)
at com.twx.integration.client.things.IntegrationRuntimeServer.Invoke(IntegrationRuntimeServer.java:72)
at jdk.internal.reflect.GeneratedMethodAccessor133.invoke(Unknown Source)
at java.base/jdk.internal.reflect.DelegatingMethodAccessorImpl.invoke(DelegatingMethodAccessorImpl.java:43)
at java.base/java.lang.reflect.Method.invoke(Method.java:566)
at com.thingworx.common.processors.ReflectionProcessor.processService(ReflectionProcessor.java:230)
at com.thingworx.communications.client.things.VirtualThing.invokeService(VirtualThing.java:1126)
at com.thingworx.communications.client.things.VirtualThing.handleServiceRequest(VirtualThing.java:1034)
at com.thingworx.communications.client.ConnectedThingClient.handleRequest(ConnectedThingClient.java:315)
at com.thingworx.communications.client.processor.ClientProcessorTask.run(ClientProcessorTask.java:55)
at java.base/java.util.concurrent.Executors$RunnableAdapter.call(Executors.java:515)
at java.base/java.util.concurrent.FutureTask.run(FutureTask.java:264)
at java.base/java.util.concurrent.ThreadPoolExecutor.runWorker(ThreadPoolExecutor.java:1128)
at java.base/java.util.concurrent.ThreadPoolExecutor$Worker.run(ThreadPoolExecutor.java:628)
at java.base/java.lang.Thread.run(Thread.java:829)

• WSCommunicationsSubsystem's Idle Connection timeout is set to 300 seconds (5 minutes)
• OutboundTimeout is not set in integrationRuntime-settings.json thereby defaulting to 30 seconds
• On executing a service, the route exchange is failing which is resulting in Read timed out error