This formation looks quite strange, and usually will not result in a win. However, it doesn't have a negative effect on training (unlike e.g. 2-6-2). So it can be used by defending, playmaking, goalkeeping and winger trainers. It will still generate confusion during the match.
If you want to tie or lose a match, 5-5-0 can be used to good effect.
Using 5-5-0 to Get a Tie
If both teams use 5-5-0, don't use any players with a speciality and make sure a player with disastrous set pieces takes all the free kicks, the chance of any goal being scored is almost zero. In this way a 0-0 result will almost always be the case. This can be useful in a friendly cup with groups where both teams need a point to advance.
Using 5-5-0 to Lose
5-5-0 can also be used to make sure you lose. This can be useful when playing a friendly with cup rules when you don't want the chance of injuries in extra time. All players that play just for their form can be positioned there where they will play very bad and players that play to receive training can be given an order to make sure the team plays worse. E.g. a defensive trainer orders all his defenders to play offensive, makes sure players without playmaking and with bad stamina play as IM and players without wing play as wingers. All midfielders with bad defending can be ordered to play defensive. In this way all ratings are lowered as much as possible without any negative effects for training and player form.
Using 5-5-0 to Somehow Win
If you decide that in one match pressing is the only option you can do to avoid losing, 5-5-0 can be a good friend. Just line-up your 10 best defenders and issue the pressing order. If you train defenders this can be the best pressing skill you ever achieved yet. If you set your Wingers (can use Wingbacks for this) to play offensive you can even get a chance to win.