Yes, metal 5 is exposed if you add the "pad" layer on top of metal 5 ("pad" is the sky130 term; in magic the layer is traditionally called "glass" for "glass cut"). See
https://skywater-pdk.readthedocs.io/en/main/rules/periphery.html#pad. There is only a rule for pad-to-pad (meaning glass cut) distance. I do not know why they do not have a minimum width rule. Stick with the pad design from the I/O cells if you want to be safe (the pad itself, which is just metal 5 and glass cut with a metal 4 ring around the perimeter, has its own cell, which is called
sky130_fd_io__pad_esd
). Otherwise, the size of the cut depends on what you have for a wafer probe.