Good morning gunjan,
You have not provided much information such as the policy server version or the web agent version you are using. So I will try to answer this generically.
Please review the web agent guide section found here:
https://support.ca.com/cadocs/0/CA%20SiteMinder%20r12%20SP3-ENU/Bookshelf_Files/HTML/idocs/index.htm?toc.htm?agent-guide.html
Web Agent Guides › Web Agent Configuration Guide › Single Sign-On (SSO) › How to Configure Single Sign-On › Protect Session Cookies from Misuse with Validation Periods and Expired Cookie URLs
CookieValidationPeriod
Specifies the time period (in seconds) in which the receiving agent will accept the session cookie. After this time passes, the session cookie will not be accepted. If this field is not used or is set to zero, the session cookie expires when the Idle Timeout and Max Session Timeout values are met.
Default: Empty.
Policy Server Guides › Policy Server Configuration Guide › Implementing Policy-based Security › Strategies for Managing Security and Users › Manage the End-user Experience › How Sessions Are Managed
How Sessions Are Managed
By managing sessions, you control how long an authenticated and authorized user can access the resource. You can control sessions by:
Specifying the amount of time a user can remain idle, without interacting with the resource.
Idle timeouts protect against unauthorized use of the resource by limiting the amount of time the session remains active if it is not being used. The idle timeout is particularly useful in cases where users leave their computer without logging out of their session. When the idle timeout limit is reached, the session automatically ends.
Your statment is correct. If you set CookieValidationPeriod to 5 minutes or 300 seconds. And there is no activity the user will be challenged for Authentication again at this point. This will in affect override your idle time out setting.
Hope this helps.
Gene