Timeout when reading response headers from daemon process - apache2

Question

I am using mod_wsgi with apache2.
[Thu Aug 29 10:50:48.050923 2019] [mpm_prefork:notice] [pid 24309] AH00163: Apache/2.4.18 (Ubuntu) mod_fastcgi/mod_fastcgi-SNAP-0910052141 mod_wsgi/4.3.0 Python/2.7.12 configured -- resuming normal operations
From the above line, you can see that mod_wsgi version is 4.3.0 and apache 2.4.18.
I am running a web application made of Trac framework. And a Django app. Both of them interconnected with some linking. And a Zend app is also part of the overall system.
The major problem is that the app goes unusable by producing "Gateway time out" errors.
When examined, I found 'apache2' is taking too much of CPU. Sometimes 'postgresql' takes too much of CPU. I am not sure why this is happening. In a hope, I tried restarting the services apache and postgresql but it doesn't help much. The same problem continues.
30820 postgres 20 0 314748 46120 42936 R 98.3 1.1 0:26.04 postgres
Above line is part of 'top' command in which postgres uses 98.3% of CPU.
Below is my virtual host script.
<VirtualHost *:80>
ServerName subdomain.domain.com
WSGIDaemonProcess prismdjango user=www-data group=www-data home=/opt/Production/CustomPlugins/CommonPlugin/PRISMDJANGO
WSGIDaemonProcess prismnew user=www-data group=www-data home=/opt/PRISM30/
WSGIScriptAlias /audittool /opt/Production/CustomPlugins/CommonPlugin/PRISMDJANGO/PRISMDJANGO/wsgi.py
WSGIScriptAlias /api /opt/Production/CustomPlugins/CommonPlugin/PRISMDJANGO/PRISMDJANGO/wsgi.py
WSGIScriptAlias /project /opt/Production/CustomPlugins/CommonPlugin/PRISMDJANGO/PRISMDJANGO/wsgi.py
WSGIScriptAlias /accounts /opt/PRISM30/PRISM30/wsgi.py
WSGIProcessGroup prismdjango
WSGIProcessGroup prismnew
Alias /Audittool/static /opt/Production/CustomPlugins/CommonPlugin/PRISMDJANGO/Audittool/static
Alias /user_deactivate /var/www/html/user_deactivate
Alias /contractual_requirements/static /opt/PRISM30/contractual_requirements/static/
<Directory /opt/PRISM30>
WSGIProcessGroup prismnew
WSGIApplicationGroup %{GLOBAL}
Require all granted
Options ExecCGI
AddHandler wsgi-script .wsgi
#Options Indexes FollowSymLinks Includes ExecCGI
#AllowOverride All
#Require all granted
<Files PRISM30/wsgi.py>
Require all granted
</Files>
</Directory>
<Directory /opt/Production/CustomPlugins/CommonPlugin/PRISMDJANGO>
WSGIProcessGroup prismdjango
WSGIApplicationGroup %{GLOBAL}
Require all granted
Options ExecCGI
AddHandler wsgi-script .wsgi
#Options Indexes FollowSymLinks Includes ExecCGI
#AllowOverride All
#Require all granted
<Files PRISMDJANGO/wsgi.py>
Require all granted
</Files>
</Directory>
ErrorLog ${APACHE_LOG_DIR}/error.log
CustomLog ${APACHE_LOG_DIR}/access.log combined
DocumentRoot /opt/TracProjects
WSGIDaemonProcess prism user=www-data group=www-data home=/opt/TracProjects
WSGIScriptAlias / /usr/share/trac/trac.wsgi
WSGIProcessGroup prism
<Directory "/opt/TracProjects">
WSGIApplicationGroup %{GLOBAL}
Options Indexes FollowSymLinks
#AddHandler cgi-script .cgi
#Options Indexes ExecCGI
#DirectoryIndex index.cgi
Order allow,deny
Allow from all
<IfModule mod_authz_core.c>
Require all granted
</IfModule>
</Directory>
<Location /opt/TracProjects>
WSGIProcessGroup prism
</Location>
# TRAC ENV PARENT DIRECTORIES SETUP
DirectoryIndex index.php index.cgi
Alias /authtimesheet "/var/www/ZendApp/public"
#DocumentRoot /var/www/ZendApp/public
#SetEnv APPLICATION_ENV "development"
<Directory /var/www/ZendApp/public>
Options Indexes FollowSymLinks
DirectoryIndex index.php
AllowOverride All
#Order allow,deny
#Allow from all
Require all granted
</Directory>
</VirtualHost>
From apache log file,
[Wed Aug 28 18:31:25.478081 2019] [wsgi:error] [pid 23046] [client 172.24.188.116:36348] Timeout when reading response headers from daemon process 'prism': /usr/share/trac/trac.wsgi, referer: http://subdomain.domain.com
[Wed Aug 28 18:34:30.461158 2019] [wsgi:error] [pid 24138] [client 172.24.188.116:36576] Truncated or oversized response headers received from daemon process 'prism': /usr/share/trac/trac.wsgi, referer: http://subdomain.domain.com
I just want to get rid of this Time outs!Hope this Truncated or oversized response would be of another clue.
Below line is from postgresql log.
could not receive data from client: Connection reset by peer.