Looks like this functionality is not available in Solaris Bourne Shell. I believe it should have been introduced at SVR4.2. It only works in Korn and Bash shells on Solaris.
From SUN Infodoc ID14089...
A) The login session.
The entry in the /etc/default/login file:
# TIMEOUT sets the number of seconds (between 0 and 900) to wait before
# abandoning a login session.
#
#TIMEOUT=300
defines the number of seconds the login process will wait on an attempted login for a response to the login prompt. For example, if you have the TIMEOUT value set to 120, then when you "telnet <hostname>", you will have 120 seconds, or 2 minutes, to enter a login name before it closes the connection.
The default is 300 seconds, or 5 minutes.
B) The shell session. (Korn and Bash shells only, /usr/bin/ksh and /usr/bin/bash)
The TMOUT environment variable is what controls Korn and Bash shell inactivity timeout. If it is unset, or has a value of 0, then timeout is disabled. If it is set to a value greater than zero, then the shell will terminate if a command is not entered in the specified number of seconds in the TMOUT variable.
The TMOUT variable can be set in /etc/profile for all users, or in an individual's $HOME/.profile.
Note: There is no TMOUT equivalent for either the bourne (/bin/sh) or C (/bin/csh) shells. Also, it only works for login sessions which use simple shells (like telnet or rlogin). It will NOT automatically logout from a CDE or Openwindows session. However, if the TMOUT variable is set in /etc/profile as shown above, any terminal window within CDE will exit after exceeding the TMOUT idle value. That might not be a desirable thing.