While creating a project derived from a project with shared process template, I am passing timeline and iterations as part of project create request.

POST https://<server>/ccm/service/com.ibm.team.process.internal.service.web.IProcessWebUIService/projectArea
itemId=new
projectAreaParms.jsonAdmins={}
jsonMembers={}
name=<name of project>
internalRemoteProcessProviderUrl=https://<server>/ccm/process/project-areas/<project-uuid>
projectAreaParms.jsonIterations=<xxx>
projectAreaParms.jsonTimelines=<yyy>

The new project is created, but timeline and iteration is not visible in ccm admin. Therefore, it appears that they are not created.