5 is the second highest setting for timing, 20*. 2 or 3 would be better, 5* or 10*. Auto is setting 1.
The punch control goes from 0.13 sec to 3.0 sec., the lower number being more powerful. There really is no way to compare this to the CC controllers because they measure different things: CC goes by limiting the max current; and therefore a %, MGM by "time to max throttle"; therefore a time value. I have my punch set to option 3 which is 0.39 sec. It limits wheel spin on takeoff, but if you stay on throttle it catches up to you... Option 5 is 1.3 sec. On very soft sand I think it would help with traction, unless you prefer rooster tails.
Here's a link to the manual:
MGM Tmm-xxxx-3 Car/Boat