What is the difference between timeColumnName and sortedColumn inside the tableConfig from query performance perspective? If my query is mainly based on timeColumnName, should I use use the same column as sortedColumn?

Typically you want to use a column that has

where col = xxx

in most queries and that prunes out a lot of data from being selected. I take it that you will have time range in your query like

where time between t1 and t2

? If so, range index might be better fit for that. Also, there is time related metadata that is used for pruning data during query execution.