The diode is going to drop 0.6V, leaving you with only 4.4 V max for the drive. Then the capacitor is going to immediately start dropping in voltage as soon as you start pulling the stored energy out of it.
So, in practice, to do a quality job of this it will probably need a DC-DC converter. These aren't necessarily expensive, but definitely more complicated than the old diode trick.
They also frequently cache data which can be difficult (slow) to write, for example a single modified 4kb page which is part of a large unmodified area. Completing that write would involve reading the original data, erasing the entire erase-block, and rewriting the new data.
SSD's with built in power loss prevention typically reserve an area on the SSD which is pre-erased ready to dump the contents of the cache into. Then on powerup, they reload the cache and properly flush the data to the actual place it's supposed to be.
[1]https://www.maximintegrated.com/en/products/analog/amplifier...
Most motherboards don't report that to the OS though, instead they simply reset all the hardware.
To be fair, it's probably preferable to reset stuff than to operate when the power supply isn't healthy, since that will lead to a lot of weird undefined behaviour.
Or maybe it is, but I have no idea?