We can confirm that the Socket Time Out errors which you are receiving are related to an issue that we are still addressing.
Whilst the root cause hasn't yet been identified we have deployed some mitigations which have reduced the frequency of the problems. We continue to investigate these issues as a top priority.
The timeouts which are applied ensure that a scripts code cannot run for longer 60 seconds with any of its API calls not being allowed to run for longer than 30 seconds. Further information on timeouts can be found in the documentation page located here.
Scripts that run into these timeouts need to be adjusted to use fewer API calls or to make use of the bulk operations in the Jira APIs.