So I never got a reply. What I figured out is that it won't timeout. It turned my instance into an unusable brick. I had to create it again from scratch to fix a simple configuration issue. After I did, I made Splunk start after sshd by renaming the Splunk startup script to S60splunk in /etc/rc.d/rc3.d on this instance and all of my other instances. That allows sshd to start so you can login to fix any Splunk configuration issues.
If you're listening, Splunk, this would be a great change to make to your installer.