See inline comments:

# Add vlan bridge
/interface bridge
add name=bridge_vlan5

# add security profile for wifi
/interface wireless security-profiles
set [ find default=yes ] supplicant-identity=MikroTik
add authentication-types=wpa2-psk eap-methods="" mode=dynamic-keys name=iot supplicant-identity=""

# add virtual wifi to 2.4G and 5G APs
/interface wireless
set [ find default-name=wlan2 ] band=2ghz-g/n country=netherlands disabled=no distance=indoors frequency=auto installation=indoor mode=ap-bridge security-profile=xxxxxxxxxxx ssid=MYSSID station-roaming=enabled wireless-protocol=802.11 wps-mode=\
    disabled
set [ find default-name=wlan1 ] band=5ghz-a/n/ac channel-width=20/40mhz-Ce country=netherlands disabled=no distance=indoors frequency=auto installation=indoor mode=ap-bridge name=wlan5 security-profile=xxxxxxxxxxxxx skip-dfs-channels=all ssid=\
    MYSSID station-roaming=enabled wireless-protocol=802.11 wps-mode=disabled
add disabled=no keepalive-frames=disabled mac-address=4A:8F:5A:48:A4:69 master-interface=wlan2 multicast-buffering=disabled name=wlan_iot2 security-profile=iot ssid=IOT vlan-id=5 vlan-mode=use-tag wds-cost-range=0 wds-default-cost=0 \
    wps-mode=disabled
add disabled=no keepalive-frames=disabled mac-address=4A:8F:5A:80:CE:1D master-interface=wlan5 multicast-buffering=disabled name=wlan_iot5 security-profile=iot ssid=IOT vlan-id=5 vlan-mode=use-tag wds-cost-range=0 wds-default-cost=0 \
    wps-mode=disabled

# Add vlans to virtual Wifi
/interface vlan
add interface=wlan_iot2 name=vlan5_iot-2 vlan-id=5
add interface=wlan_iot5 name=vlan5_iot-5 vlan-id=5

# add ip range for dhcp
/ip pool
add name=dhcp_pool5_iot ranges=10.5.0.2-10.5.0.200

# add dhcp server with above range
/ip dhcp-server
add address-pool=dhcp_pool5_iot interface=bridge_vlan5 name=dhcpiot

# add vlans and interfaces to vlan  bridge
/interface bridge port
add bridge=bridge interface=wlan_iot2
add bridge=bridge interface=wlan_iot5
add bridge=bridge_vlan5 interface=vlan5_iot-5
add bridge=bridge_vlan5 interface=vlan5_iot-2

# add vlan to existing bridge (Not really needed) is for inter vlan traffic
/interface bridge vlan
add bridge=bridge_vlan5 vlan-ids=5

# add interfaces to LAN list (firewall needs this)
/interface list member
add interface=vlan5_iot-2 list=LAN
add interface=bridge_vlan5 list=LAN
add interface=vlan5_iot-5 list=LAN

# Add gateway/dhcpserver ip address
/ip address
add address=10.5.0.254/24 comment="IOT (vlan5)" interface=bridge_vlan5 network=10.5.0.0

# dhcp server network
/ip dhcp-server network
add address=10.5.0.0/24 dns-server=1.1.1.1 gateway=10.5.0.254 netmask=24

# generic NAT rule
/ip firewall nat
add action=masquerade chain=srcnat comment="defconf: masquerade" ipsec-policy=out,none out-interface-list=WAN