Unfortunately not,
The unity FAST magnifier flip mounts are made to work with the FAST optic mount as their heights (2.26") is higher than the 39mm mounts.
The Aimpoint CompM5 Red Dot Reflex Sight has an 18mm clear aperture (0.71").
The Aimpoint CompM5 Red Dot Reflex Sight is a non magnified red dot sight. So when using it the target you will appear the same size as if viewing it with the naked eye for a given distance.
The manufacturer of the RS Regulate AKML Aimpoint mount doesn't specify if the Aimpoint CompM5 Red Dot Reflex Sight will fit that mount. I recommend contacting the manufacturer to confirm compatibility.
Yes u can replace the mount.
The included 39 mm riser will make it absolute co-witness with standard AR-15 sights.
You can use this mount instead: https://www.opticsplanet.com/american-defense-manufacturing-aimpoint-t1-micro-mount-1-piece-lower-1-3rd-co-wi.html
You will want MPN: 12241 and MPN: 12240 or MPN: 200122 for the front if you want the ARD.
Yes, the included 39 mm riser will make it absolute co-witness with standard AR-15 sights.
Yes, Aimpoint offers two models, 200194 and 200195. Both come with a flip cap, one transparent and one solid. We carry 200194 which is the solid cap with ARD. It can be found here:
https://www.opticsplanet.com/aimpoint-flip-up-lenscover-for-2nd-generation-aimpoint-micro-sights.html