I'm getting this error "The request timed out" and "bridgeOS update prepare timed out" on macOS Big Sur 11.0.1 (not beta). I tried rebooting and also rebooting into safe mode (by holding down shift) and neither helped.
SergeiT
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In some other logs I found entries like
MacBook-Pro osinstallersetupd[1710]: objc[1710]: Class BOSQueryCurrentStateOperation is implemented in both /System/Library/PrivateFrameworks/BridgeOSInstall.framework/Versions/A/BridgeOSInstall (0x7fff8e697c80) and /Applications/Install macOS Big Sur.app/Contents/Frameworks/OSInstallerSetup.framework/Versions/A/Frameworks/IAESD.framework/Versions/A/Frameworks/IABridgeOSInstall.framework/Versions/A/IABridgeOSInstall (0x107162780). One of the two will be used. Which one is undefined.
I removed the copy from /Applications and that allowed the install to proceed. Eventually the installer got stuck during installation and I had to hard reboot it once and eventually Big Sur update succeeded.