I tried recently to update WordPress to release 6.3 but it was constantly failing in my setup with nginx/php-fpm7.4.
Easiest way to fix it is to find this part of your site config in nginx:
location ~ \.php(?:$|/) {
include snippets/fastcgi-php.conf;
fastcgi_pass php;
}
and append it with fastcgi timeout settings:
location ~ \.php(?:$|/) {
include snippets/fastcgi-php.conf;
fastcgi_read_timeout 600;
fastcgi_send_timeout 600;
fastcgi_connect_timeout 600;
fastcgi_pass php;
}