Yes, it is possible. But the ready-made configurations you can select from the Tools > USB Type menu have 4 or 16 virtual cables. To get exactly 5, you'd need to edit the USB code. Probably best to use 16 and leave 11 unused, at least while getting everything else working.
Use of MIDI virtual cables is documented on this page. Scroll down to "Transmit With Virtual Cables/Ports".