I tried timeout, tried taking everything away, no tv no toys and playing.
Please don't do this. Seriously, don't ever punish a child for potty behavior. That's just not going to end well for you or your son.
Now, what can you do?
I highly suggest you stop worrying about whether he has problems "elsewhere" and focus on home life. There are two main reasons children his age pee themselves.
Anxiety
If they do not feel comfortable. That's why the joke at the start. Punishing around potty time can create anxiety. Anxiety leads to, "I don't want to go in that room; I always get in trouble there." One of the oddest ways that can happen is if you tell them poo smells yucky or that pee is gross. I have seen kids turn that into, "Well, I better not pee then because so-and-so thinks it's gross, and I want to make them happy," when what we mean as adults is, "Please don't try to lick your pee off the floor."
The point is that a seemingly harmless, even well-meaning statement can lead to anxiety. That anxiety can lead to a reluctance to pee.
The anxiety can be, but not always is the result of child/sexual abuse. (And I only mention this because it's essential. See the note at the end)
To help with that. Make potty time fun. Play a game. If Dad is around, pee together. Have Dad "show him how it's done". Make a big deal about it when you go pee. "Well, I'm off to pee!" Later, this can even become an excellent point to tie in other behaviors. "Well, better go touch my penis. What do we do after that. Best to wash my hands." etc. Make a big deal out of it when you go. Then maybe work in a bit of fun.
My favorite tip with that is to play "Target Pratice" with some cherioes or froot loops. Throw a few in the bowl and then aim and fire. Again, making it fun or a game. Getting the general idea that "I can't wait till I have to pee again. Then I get another try at sink to OOOOs. I bet next time I can hit all 5"
Attention Span
Having fun. The second reason is that kids are kids, and if you don't remind them, legos are more fun than potty time. This is the far more common cause. See the tip above about pee games. In addition to pee games, set a timer on your phone. About 2 hours should be ok, but you should adjust. When the alarm goes off, EVERYONE (adults too) go and pee. Rather "by example" or "wait in line" doesn't matter. You want to advertise that the alarm went off so it's time to go and pee.
"RING RING RING" - "Time for a pee break" - "Everyone up, and to the potty"
If he doesn't need to go, then do that running water, "just give it a try" thing. If he still can't go, make the next alarm half an hour. Adjust the 2-hour alarm accordingly once the event happens. (meaning if it takes three tries, 2 hours + 30 mins + 30 mins, make the next alarm 3 hours.)
Again, the general idea here is that pee breaks are something that everyone does. As adults, we tend not to make a big deal out of them, whereas they are an event for a young child. Heck, fireworks and peeing are almost at the same level.
A note about item one.
I mention Child/sexual abuse because potty problems like that are a sign one should be aware of. That said, it's far more likely that anxiety or attention span is the main driver. If you still have problems after trying for a while longer, it may be worthwhile seeing help from a trusted counselor, but for now, I would focus on the anxiety and attention span.