@AkhilGangadharan

I could be wrong but here is my understanding of different expose property options -

1. Optimize for reporting is available only in non-production environments. This helps to modify the table to optimize a property (and auto-populate the new exposed column with data from BLOB), and move this table change easily via migrating Data-Admin-Db-Table instance. If you are planning to use it directly in production, it won't work.
2. For any change to be made directly in production, you need to create that column on table either via PRPC (Modify Schema) or from DB console. After that you either can follow one of these two approaches -
   1. https://docs-previous.pega.com/system-administration/85/populating-properties-submitting-request-active-instance (with PEGA node(s) running)
   2. https://docs-previous.pega.com/system-administration/85/populating-properties-using-direct-connection-database (without PEGA node(s) running)

Solution 2.1 can be executed either in sync or async mode. requestTimeOut param most likely relevant to sync mode (making an guess here as nothing clearly specified on article).

Solution 2.2 directly submit data copy query to your DB. If your DB has any limit on runtime of a query, that will be in force. 

Hope it helps.