STATUS: Issue ID 800727 has been corrected in Safeguard 2.8. From the Safeguard 2.8 Release Notes under the "Resolved Issues" section:
"Unsent emails no longer cause the patch to stall. Issue ID 800727"
WORKAROUND: Ensure the email configuration is current and accurate so there are no/few queued email.
In any expected configuration, this would not cause the upgrade to time out, only take longer to apply.