Add a custom cron schedule for every 5 minutes:

/**
 * Adds a custom cron schedule for every 5 minutes.
 *
 * @param array $schedules An array of non-default cron schedules.
 * @return array Filtered array of non-default cron schedules.
 */
function devhub_custom_cron_schedule( $schedules ) {
	$schedules[ 'every-5-minutes' ] = array( 'interval' => 5 * MINUTE_IN_SECONDS, 'display' => __( 'Every 5 minutes', 'devhub' ) );
	return $schedules;
}
add_filter( 'cron_schedules', 'devhub_custom_cron_schedule' );