The API liquid GH/KH test counts each drop as 1 degree, so 5 is most likely to be a GH of 5 dGH. This is soft to very soft water. If it had been in ppm, it would be even softer but that is not the unit here. Point is, it is soft water.
Livebearers (guppies, Endlers, platies someone mentioned) are no go, they cannot manage in this soft water for long. The cories, any cory, will thrive, as will most all fish from South America suited to this sized tank. Ember Tetra Hyphessobrycon amandae, The green or false neon Paracheirodon simulans, some (but not all) of the pencilfishes in Nannostomus, for an interesting (depending how you view them) somewhat "prehistoric" addition, a common whiptail catfish Rineloricaria parva (but not the much larger "Royal" whiptails). Not all of these obviously, but their mature size/numbers make them contenders. Then there are the "nano" rasboras from SE Asia, Boraras species.