I have purchased and installed an SSL certificate on IIS on windows server 2016. I can access the website successfully from outside (https://example.com) but when I login to the server that hosts the website open a browser and type in the (https://example.com) the site does not open and I get ERR_CONNECTION_TIMED_OUT
This basically means that the hostname is not accessible from the server. I will try to ping hostname and see if that succeeds. If it fails, then its a network configuration that you need to review. This is a very common scenario.
If the SSL binding is configured on All Unassigned IP, then you can browse the site locally via https://localhost or https://Server-name