Fix Python 3.11 error

[youknowone]

What do these changes do?

Fix TypeError: duplicate base class TimeoutError from Python 3.11

Are there changes in behavior for the user?

No (unless users distinguish asyncio.TimeoutError and builtins.TimeoutError)

Related issue number

Fix #1489

Checklist

• [x] I think the code is well written
• [ ] Unit tests for the changes exist
• [ ] Documentation reflects the changes
• [x] If you provide code modification, please add yourself to CONTRIBUTORS.txt
  • The format is <Name> <Surname>.
  • Please keep alphabetical order, the file is sorted by names.
• [x] Add a new news fragment into the CHANGES/ folder
  • name it <issue_id>.<type> (e.g. 588.bugfix)
  • if you don't have an issue_id change it to the pr id after creating the PR
  • ensure type is one of the following:
  • .feature: Signifying a new feature.
  • .bugfix: Signifying a bug fix.
  • .doc: Signifying a documentation improvement.
  • .removal: Signifying a deprecation or removal of public API.
  • .misc: A ticket has been closed, but it is not of interest to users.
  • Make sure to use full sentences with correct case and punctuation, for example: Fix issue with non-ascii contents in doctest text files.

[youknowone]

Any advice for mypy failure?