No.....the output of opto isolators is an open collector as shown however the opto itself is not some magical power generator.
The collector, (terminal 4) would normally go to terminal 2 on the relay with the emitter (3) to ground as you have connected
BUT terminal 9 of the relay would then go to the positive rail.
Also if
ANY LED is used in a circuit as the opto input is ( an LED) then use a current limit resistor.
The size of the resistor is dependant on the supply voltage, and the maximum required current for the opto.
All available in the spec sheet for the part.
As an added note you could get the same result from a standard NPN small signal transistor. In that instance the current limit would apply to the base leg of the transistor.
Also the output pin of the 555 (3) can support up to around 200mA current so depending on the relay used, it may be able to be directly driven from the pin.
Get into the habit of fitting a freewheeling diode on the relay coil, it'll save you some head scratching grief further down the track one day.
Have a look at how circuit diagrams are drawn as one final note, and redo your circuit.
As drawn it is unnecessarily complex to follow.
A hint as to your control is, "
you want to stop the timer from timing out", so what is the one external component that controls this time period which can easily be shunted to ground to stop this from happening..??
Take a look at the circuit extract from Talkingelectronics that I posted a few days ago as an example.
Note that this is a servo driver
NOT a control as you require.
https://www.electronicspoint.com/fo...ervo-w-o-microcontroller.291338/#post-1787415