I upgraded my grid from v2.48.2 to v2.50.0 and now 50% of my tests will get the TIMEOUT error. This is happening on Linux with FF. I have not tried other browsers yet.
I also noticed that if you set the "timeout" option in your node.json file, it gets ignored. Also tried to pass it in through the command line and it was also ignored. This works perfectly fine in v2.48.2.