Yes, the DJI Mic 2 is compatible with the Panasonic Lumix S5 IIX.
Panasonic LUMIX S5 IIX has a 3.5mm stereo mini jack external microphone input. DJI Mic 2 includes a 3.5mm TRS analog camera output. Direct plug-and-play connection, no adapter required.
“When attaching Φ3.5mm microphone or DMW-XLR1 (sold separately)”
“3.5mm TRS analog output. It is compatible with most cameras”
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Confidence: inferred