I hate to be the bearer of bad news, but it is very unlikely that you'll be able to sign up for the 5K at this date. Those events tend to sell out the day they are released which for marathon weekend is usually in April. (if I remember right)
As for your concern about completion, I don't recall there being a mandatory completion time for the 5K as there is for the half marathon and marathon. For those longer running events, a cut-off time is necessary since they have to open the course back up. For those runs for sure they require a 16 minute per mile pace.
Carrie
CBR: 2/21-2/25/17
POR: 6/4-6/11/16
POFQ: 11/15-11/19/15
8/28-9/1/14 -DL-Dumbo 19.3 C2C
POR: 1/7-1/14/14 -Dopey 48.6
POR: 6/11-6/17/13
ASMu: 1/11-1/15/13 -1st Full 26.2
ASMu: 9/22-9/28/11
ASMu: 6/7-6/13/11
Pop: 1/30-2/6/10
Pop: 2/1-2/7/09
Pop: 1/08
ASMu: 05/06
Off-site: 12/93
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