The diet is fine, but doing it along with 5x5 is going to be too much. With a PSMF I would start with 2-3 workouts per week. Your main goal should be to preserve as much muscle while shedding as much fat as possible. Maintaining isnt too difficult and doesnt require nearly as much time in the gym as trying to grow. 2-3 full body workotus each week would be where I would start. 1-2 movements per bodypart, no more than 4-6 total sets, 6-12 reps. On PSMF cardio is completely optional.