It won't work out of the box, there will be some glide files that will conflict between them. You can get the configuration to work, but I don't see any reason to do so.

If you have a V5 there's no need to want a V2 too. There's some very old games that require V1 or V2, but almost all of them work in DOS and no drivers are required.

been a while since i ran  a v5 5500 but it seems most of hte incompatabilities in glide games with the v5 could be resolved by running it in single mode..

if you want dos comptability, it should work as long as ou put the voodoo2 glide library in the game folder. (i had a hard time getting good support for dos games with my v5 of any kind)