Timeout on a VirtualService

If we define a VS as following for bookinfo:

cat <<EOF | kubectl apply -f -
apiVersion: networking.istio.io/v1alpha3
kind: VirtualService
metadata:
  name: ratings
spec:
  hosts:
  - ratings
  http:
  - fault:
      delay:
        percent: 50
        fixedDelay: 5s
    retries:
      attempts: 10
      perTryTimeout: 1s
    route:
    - destination:
        host: ratings
        subset: v1
    timeout: 1s
EOF

When would the “timeout: 1s” be applicable i.e. is it after the “fault filter” is done with delay injection OR does it start as soon as request lands on istio-proxy?