Function timeout when trying to connect to managed Postgres Database

I have DO function like below which connect to managed PostgreSQL database and call a procedure, but function timeout when I invoke it through the control panel, I even tried increasing timeout duration and memory. (tried upto 1 min, 256MB of memory)

exports.main = async function main() {
  const { Client } = require("pg");

  require("dotenv").config();

  console.log("Database URL:", process.env.DB_URL);

  const client = new Client({
    connectionString: process.env.DB_URL,
  });

  _try_ {
    _await_ client.connect();
    _await_ client.query("CALL app.prcdre()");
  } _catch_ (err) {
    console.error(err);
  } _finally_ {
    _await_ client.end();
  }
};

project.yml

packages:
  - name: sample
    functions:
      - name: dailyproc
        binary: false
        runtime: "nodejs:18"
        main: ""
        web: true
        environment:
          DATABASE_URL: "${DB_URL}"
        limits:
          timeout: 3000
          memory: 128
        triggers:
          - name: daily-payout-10pm
            sourceType: scheduler
            sourceDetails:
              cron: "00 22 * * *"

ENV is set properly as I can see with the console log. Also note this database is also attached to app platform.

How could I resolve this timeout?