Triggered automations have strict execution time limits depending on your settings. You are most likely seeing this error message because you're running a synchronously triggered automation, which takes longer than 60 seconds to execute.
The full limits are described here (Maximum automation, job duration (execution time)).
If you’d need your triggered automation, to run longer, you can change it to be an async automation. In that case it can run up to 4 hours (QAA) or 48 hours (Blendr). The downside of an async automation, is that it doesn’t wait for the automation to be executed to send an API response back to the triggering system.
You can change the automation to run asynchronously by clicking on the Start Block and set the "Run asynchronously" dropdown to Yes.
The following articles provides more background knowledge on the different settings for triggered automations:
Triggered Automation Options