The solution from ITheme:
If backup buddy times out, adjust the "Alternative Zip System" settings. I
Adjust them to the following:
BackupBuddy -> Settings -> Advanced Settings/Troubleshooting -> Zip -> Alternative Zip System
Set Zip Build Strategy to Multi-burst/Multi-Step (please make sure this is *Multi-Step*)
Set Maximum time per chunk to 90 (seconds) (default is 30)
Set Maximum content size for a single burst to 20 (MB) (default is 100) - leave Min at 10
Save and try those settings.