Well, maybe not exactly time “out”, but at least ask for more time. Remember to ask the clarifying questions and if by doing so you can reasonably conclude the original deadline given to you is not really necessary, then ask for an extension.
In other words, build some margin into your life!
Btw, why am I spending so much time on saying “NO”? Because being overloaded..feeling overextended…is the most common challenge I deal with in every profession.
Here’s an idea…breathe…deeply…slowly…now do it again…for about two minutes. And don’t tell me “NO”. You can spare two minutes for yourself.