Can the following case be assumed de facto thread-safe? The bool flag...
It's not clear which flag you're referring to.
In your code, the cancelled flag will work as you expect, because it is checked after the method that sets it is awaited. The code running after the await will see all side-effects caused by the awaited method.
However, timeout does not look thread-safe at all. The awaited code checks timeout but is (probably) not awaiting whatever code sets timeout.
You could go through the trouble of using locks and whatnot, or you can use the CancellationTokenSource, CancellationToken, and OperationCanceledException provided by the .NET framework for exactly this scenario:
try
{
await MyAsyncJob.Process(() =>
{
cancellationToken.ThrowIfCancellationRequested();
});
}
catch (OperationCanceledException)
{
DoSomething();
}
By following the standard pattern, other developers will be able to understand your code more quickly. And you won't have to worry about thread safety at all; the provided framework types take care of it.