White timeout = draw

Because you havent material

Because there does not exist any legal sequence of moves with which black can checkmate white.

Because black has no chance of winning, it is a draw. If black had even a knight, black would have won.

Black, in no position, can win.
White can still win, as white has the queen.
For more: lichess.org/faq#timeout

As white ran out of time, we look if there is a legal sequence of moves that leads to white getting checkmated. If there is one, black wins; if not, it is a draw.

#4
"If black had even a knight, black would have won."

No: KN can checkmate against KP, KN, KB, KR, but not KQ.