Troubleshooting OpenTelemetry Initialization with Bun.js Error

L":"E:\\backend-v2\\node_modules\\@opentelemetry\\otlp-exporter-base\\build\\src\\transport\\http-transport-utils.js",
stack":"Error: Request timed out
    at <anonymous> (E:\\backend-v2\\node_modules\\@opentelemetry\\otlp-exporter-base\\build\\src\\transport\\http-transport-utils.js:87:24)
    at emit (node:events:322:22)
    at emitCloseNT (node:http:196:33)
    at <anonymous> (node:http:1128:70)
    at <anonymous> (native:19:28)
    at processTicksAndRejections (native:7:39)",
name":"Error"

import { SimpleSpanProcessor } from "@opentelemetry/sdk-trace-base";
import { OTLPTraceExporter } from "@opentelemetry/exporter-trace-otlp-proto";
import { OpenAIInstrumentation } from "@arizeai/openinference-instrumentation-openai";
import * as OpenAI from "openai";
import { diag, DiagConsoleLogger, DiagLogLevel } from "@opentelemetry/api";
import { registerInstrumentations } from "@opentelemetry/instrumentation";
import { NodeTracerProvider } from "@opentelemetry/sdk-trace-node";
import { Resource } from "@opentelemetry/resources";

// For troubleshooting, set the log level to DiagLogLevel.DEBUG
diag.setLogger(new DiagConsoleLogger(), DiagLogLevel.INFO);

const provider = new NodeTracerProvider({
  resource: new Resource({
    ["openinference.project.name"]: process.env.PHOENIX_PROJECT_NAME,
  }),
});

provider.addSpanProcessor(
  new SimpleSpanProcessor(
    new OTLPTraceExporter({
      url: process.env.COLLECTOR_ENDPOINT || "http://localhost:6006/v1/traces",
      headers: {
        'Authorization': `Bearer ${process.env.PHOENIX_API_KEY}`,
      },
      timeoutMillis: 500000,
    }),
  ),
);

// OpenAI must be manually instrumented as it doesn't have a traditional module structure
const openAIInstrumentation = new OpenAIInstrumentation({});
openAIInstrumentation.manuallyInstrument(OpenAI);

registerInstrumentations({
  instrumentations: [openAIInstrumentation],
});

provider.register();

diag.info("👀 OpenInference initialized");