Hi patrickmutzbauer,
Are you getting a connection timed out error only when submitting the booking form (and no other time)?
Have you tested setting a reservation from Pending to Confirmed (and clicking the Send Notifications option)?
If you get a time out in these two situations but no others, I’d recommend you follow up with your web hosts. My best guess would be that it’s timing out when it’s trying to send an email, which could suggest a problem with the email server configuration.
If you contact your web host with a date and time of the email that should have been sent, they ought to be able to look into their logs and see if anything odd is popping up.