If you are building a server in the cloud, and you get a timeout when waiting for the VM to register the right hostname or IP address, here are a few good troubleshooting steps:
Look at the console on the VM to see if it got stuck somewhere
Check VMware's Guest OS Customization Support Matrix to make sure that customizing this OS is supported on your version of VMware.
If there is an error regarding customization, it would be worth using the VMware UI to try deploying the template and customizing the new VM. This will determine if the source of the problem is in CloudBolt or elsewhere.
In the case where you get an error like "Error reading customization specification when deploying from a template", you may have this permission issue in VMware: