Yes it is possible.

I bought a single form one to do my grid of M12's from here: http://www.drill-service.co.uk/Produ...20000&Tool=799

You would use the 6mm one with a max cutting OD of 4.8 so you can get into the 5mm pilot holes.

If you want to go quicker, you can get the multipitch endmills that can make the thread in a single pass but they do become more expensive.

Have a look on NYCCNC's videos for how to set it all up in Fusion 360.

Regards