I think the best answer is it depends with 5mm spacers. Some wheels are thinner and thus would allow the OEM bolts to still have enough threads engaged in the hub even with a 5mm spacers. Others maybe not. To be safe I would say you need extended lugs but you really have to try it.
Current: 2014 F10 M5
Previous: 2015 F80 M3, 2013 E92 M3, 2013 F10 M5, 2009 E90 M3, 1998 E36 M3