First of all, timeouts is a client-side setting. Most client APIs have a default timeout of 30 seconds, so if SQL Server does not complete in this time frame, they raise the error Timeout expired.
If you are seeing lots of timeouts now, and you had none before, I would say this is because the query plans have changed. Query plans can change for many reasons, updated statistics, different parameter value sniffed etc. And they can also change because of the hardware. The memory frequency is not likely to affect the plans, but adding more cores certainly do.
If you already had Query Store enabled before the hardware change, you have a wealth of material to dig into, and you can compare old and new plans.
Else, enabling Query Store is always a good start, so that you can track down exactly which queries that are timing out, and then investigate how you can tune them.