This will depend upon the combination of the asynchronous pattern flag and the time out specified on the HTTP action. Consider following scenarios
I have a long running orchestration which basically has a delay of 5 min before echoing back the received message. Notice in the image below that I have set the aysnchronous flag to true hence the logic app returns a 202.
Now in my calling logic app, I am calling above long running logic app with following settings on my the HTTP action.

This setting will cause the Logic app to time out after polling the long running logic app for 1 minute.
I have added a status code of 500 to be sent out if the HTTP actions fails or times out.

Following is the request I made it returned a status of 202

When I did a GET on the url received in above call after 1 minute I received a 500 Status code

Following is the Logic app run history, which shows that the Logic App stopped waiting after 1 Minutes of polling

Now I have removed the Timeout defined previously and made a request as shown below

After 5 minutes I have received a response as Logic app has reached a terminal state.

The logic app history proves that the logic app took 5 minutes to complete
