[chore] Set more reasonable update-otel retry parameters (open-telemetry#41337)

<!--Ex. Fixing a bug - Describe the bug and how this fixes the issue.
Ex. Adding a feature - Explain what this achieves.-->
#### Description

Follows open-telemetry#41272. This job typically takes 20-30 minutes, so we need to
put a much higher timeout

Author: mx-psi

.github/workflows/update-otel.yaml

@@ -35,19 +35,17 @@ jobs:
           echo "LAST_COMMIT=$LAST_COMMIT" >> $GITHUB_ENV
           echo "BRANCH_NAME=$branch" >> $GITHUB_ENV
         env:
-          GITHUB_TOKEN: ${{ secrets.OPENTELEMETRYBOT_GITHUB_TOKEN }}
-          
+          GITHUB_TOKEN: ${{ secrets.OPENTELEMETRYBOT_GITHUB_TOKEN }}         
       - name: Gets packages from links with retries
         uses: nick-fields/retry@v3
         with:  
-          retry_wait_seconds: 5
-          timeout_minutes: 15
+          retry_wait_seconds: 500
+          timeout_minutes: 120
           max_attempts: 3
           retry_on: error 
           command: |
             cd opentelemetry-collector-contrib
             make update-otel OTEL_STABLE_VERSION=${{ env.LAST_COMMIT }} OTEL_VERSION=${{ env.LAST_COMMIT }}
-       
       - name: Push and create PR
         run: |  
           cd opentelemetry-collector-contrib
@@ -74,4 +72,4 @@ jobs:
           body="$(printf "$template" "$job_url" "$(tail -n100 log.out | tail -c63K)")"
           gh issue create -R ${{ github.repository }} -t 'update-otel workflow failed' -b "$body" -l 'ci-cd'
         env:
-          GH_TOKEN: ${{ github.token }}
+          GH_TOKEN: ${{ github.token }}