Yes. There are several different mega-mods you can go with; I personally play Trigger Maru Overhauled with the Run Silent Run Deep Campaign and Optical Targeting Correction.
They will work with the Steam version but make sure to get the U-Boat Missions so you'll have version 1.5. I bought mine through Steam.
I never played SH5 but I'd say 4 is closer to 3 than 5.
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