Default values for Entity and Config service timeouts in application.…

[suddendust]

…conf

Description

Refer: PRs here and here. This PR adds default configs in application.conf.

Testing

Changes were tested locally with both configured timeout and default timeout.

Checklist:

• [x] My changes generate no new warnings
• [x] I have added tests that prove my fix is effective or that my feature works
• [x] Any dependent changes have been merged and published in downstream modules