Wow, I managed to upgrade to 2.11-e. I plugged in the old sub pack which I still have from my m3 and plugged in the charger.
Following that I tried the Rockbox Utility again but again getting the "It seems your bootloader is already up to date. Do really want to install it?" error again.
I then copied the rockbox bootloader manually in the FIRMWARE folder and again pluged the sub pack and charger in and the Rockbox is now working fine on my M5 :-).