jest: jest-circus doesn't fail tests on timeouts set by `jest.setTimeout`

🐛 Bug Report

jest-circus happily passes a test which times out.

To Reproduce

See instructions for running circus here: #4362.

Then one can run the following test (which should fail, but it passes): https://github.com/facebook/jest/blob/d4a7fca5a6da9d2545467bff8b6a6043b1c3aa3c/integration-tests/failures/__tests__/async_failures.test.js#L27-L31

Expected behavior

It should fail

Link to repl or repo (highly encouraged)

The Jest repo reproduces.