In case you are not aware, P3Dv5 Hot Fix 2 is now available.  According to LM, additional fixes for high priority issues are included in the new Client installer.  The Content, Scenery and SDK updates are optional.

IMPORTANT: Make a full backup of your current setup before updating to Hot Fix 2, just in case, because past experiences tell new updates DO NOT mean they are error-free.

Also, check with what others say about the Hot Fix 2 in the P3D Forum before you proceed.  It may saves you a lot of troubles.