The Error says it all, SharePoint could not provision the farm configurations within the given timeframe and it pops up the timeout. End result is, no services or applications provisioned. Below is a result from the very first application server was trying to provision my SP2016 farm on production.
You may have successfully installed prerequisites and product but this error could occur during your next step which is product configuration and service app (farm configuration) provisioning if you have a weak bandwidth for inter server communication. No matter how robust your servers are, the network could screw it all with a low bandwidth.
Try to ping across the servers and ensure you have a steady line from WFE to Intranet and Database Servers. Below sample is from one of my deployment which was failed with above error due to lack of bandwidth from APP server to Database just because the customer was having legacy network equipment and cabling (It was lower than 50 mbps given for SharePoint VLAN).
This is also can affect during Product configuration. That means the connection between your Database server to Application Server is worst, not only for SharePoint but anything rely on network connectivity will surely not perform well.
Or even hangs on 3rd stage unusually (normally this stage takes 10 min max, at my case it was more than 30 which is hilariously abnormal)
Its mandatory to have a good (at least 1gbps, 10gbps is ideal) network connectivity across all SharePoint, OWA and Workflow Manager Servers.
Hardware requirements for SharePoint 2016 – https://technet.microsoft.com/en-us/library/cc262485(v=office.16).aspx
Microsoft Cloud Infrastructure Technical Journal 