I just got a Sony RX 100 V and Lightroom can't read the raw files.

Can i do the entire process in LRtimelasp only ?

I don't know the camera, but if you already are running the latest Lightroom version and the camera is pretty new, you might have to wait until Adobe supports it in an upgrade. Otherwise just make sure to upgrade to the latest Lightroom.
In order to be able to use LRTimelapse with the camera, please upgrade the Adobe DNG Converter then too to the latest version (free download link on http://lrtimelapse.com/install ).
You will need Lightroom to support your camera in order to be able to complete the LRTimelapse workflow.