timemaster: command not found

Maybe Your $PATH variable doesn't contain the default paths? echo $PATH should give something like:

[root@server ~]# echo $PATH
/usr/local/sbin:/usr/local/bin:/sbin:/bin:/usr/sbin:/usr/bin:/root/bin

If it's empty, You may set the PATH variable with this command

export PATH="/usr/local/sbin:/usr/local/bin:/sbin:/bin:/usr/sbin:/usr/bin:/root/bin"

On CentOS possible default full paths are:

/usr/sbin/timemaster - from package: linuxptp

You may install the required package with command yum install {package}

Error in other languages:
timemaster: bevel nie gevind nie
timemaster: comandă negăsită
timemaster: comando não encontrado
timemaster: commande introuvable
timemaster: command not found
timemaster: käsku ei ole
timemaster: không tìm thấy lệnh
timemaster: komanda nerasta
timemaster: Kommando nicht gefunden.
timemaster: kommandot finns inte
timemaster: komut yok
timemaster: nie znaleziono polecenia
timemaster: níor aimsíodh an t-ordú
timemaster: no se encontró la orden
timemaster: no s'ha trobat l'ordre
timemaster: opdracht niet gevonden
timemaster: parancs nem található
timemaster: perintah tidak ditemukan
timemaster: príkaz nenájdený
timemaster: příkaz nenalezen
timemaster: команда не найдена
timemaster: командата не е открита
timemaster: 命令找不到
timemaster: コマンドが見つかりません