Steps to reproduce:

create a simple bash script:
#!/bin/bash

sleep 40
echo "ok"

create a zabbix item which runs that script

docker logs shows:
zabbix-server-1 | 260:20240808:114525.719 Failed to execute command "/usr/lib/zabbix/externalscripts/simple.sh : Timeout while executing a shell script.
zabbix-server-1 | 1:20240808:114525.719 One child process died (PID:6233,exitcode/signal:15). Exiting ...
zabbix-server-1 | 227:20240808:114525.720 HA manager has been paused
zabbix-server-1 | 227:20240808:114525.843 HA manager has been stopped
zabbix-server-1 | 1:20240808:114525.888 syncing history data...
zabbix-server-1 | 1:20240808:114525.905 syncing history data... 100.000000%
zabbix-server-1 | 1:20240808:114525.905 syncing history data done
zabbix-server-1 | 1:20240808:114525.905 syncing trend data...
zabbix-server-1 | 1:20240808:114532.850 syncing trend data done
zabbix-server-1 | 1:20240808:114532.857 Zabbix Server stopped. Zabbix 7.0.2 (revision d1b0c33).

expected result:
zabbix-server should continue to work even if a script does timeout.