FYI Can anyone confirm this?
It appears that the CDM (5.0.3.5) is setting the proxy connection-timeout to a value of 300. The units of the CLI command are in microseconds so this is an extremely low connection timeout for WAN environments. The outgoing proxys are failing. The correct default value should be 300000 which equals 300 milliseconds.
It appears that the CDM default configuration was setup thinking that the units are milliseconds. We added the 300000 value to the device group and saw that the CE no longer displays the timeout value meaning that it is at the default value of 300 milliseconds or 300000 microseconds.