Example how to change the user password reset link timeout in Drupal 8 & 9.
<?php
/**
 * @file
 * Presents a UI element to set the user password reset link timeout.
 */
use Drupal\Core\Form\FormStateInterface;
/**
 * Implements hook_form_FORM_ID_alter().
 *
 * Add the password reset link timeout setting on the user settings page.
 *
 * @see \Drupal\user\AccountSettingsForm
 */
function user_pwreset_timeout_form_user_admin_settings_alter(&$form, FormStateInterface $form_state) {
  $config = \Drupal::configFactory()->getEditable('user.settings');
  $form['password_timeout_settings'] = array(
    '#type' => 'details',
    '#title' => t('Password reset timeout'),
    '#open' => TRUE,
    '#weight' => 0,
  );
  $form['password_timeout_settings']['password_reset_timeout'] = [
    '#type' => 'number',
    '#min' => 1,
    '#max' => 31536000,
    '#title' => t('Password Reset Timeout'),
    '#description' => t('Set the timeout in seconds for one-time login links. The default is 86400 seconds (24 hours).'),
    '#default_value' => $config->get('password_reset_timeout', 86400),
  ];
  // Add submit handler to save password_reset_timeout configuration.
  $form['#submit'][] = 'user_pwreset_timeout_user_admin_settings_submit';
}
/**
 * Form submission handler for user_admin_settings().
 *
 * @see user_pwreset_timeout_form_user_admin_settings_alter()
 */
function user_pwreset_timeout_user_admin_settings_submit($form, FormStateInterface $form_state) {
  $timeout_value = $form_state->getValue('password_reset_timeout');
  $config = \Drupal::configFactory()->getEditable('user.settings');
  $config->set('password_reset_timeout', $timeout_value)->save();
}
Example 2 how to change the user password reset link timeout in settings.php file:
$conf['user.settings']['password_reset_timeout'] = 86400;