Once it's at the disposal of Team B, Team A should not be granted a timeout.
Basically if the official is counting 5 seconds then it is to late. So yes you may be granted a timeout while the player is running out of bounds to start the throw in.
If the ball is laying beneath the basket and Team B chooses not to pick it up then the official will start the 5 second count and you would not be able to call a timeout during this time.
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