doesn't matter on the timing, I know very few people who inject test e or test c more than once per week. obviously prop needs to be injected every other day, but any other ester, once per week is fine.
And yes, going from 200 to 500 is a substantial increase, lol. plus having an oral on top of that? yes, it will be effective. Your testosterone will be 2 1/2 times what it currently is. 500mg/week is a pretty standard beginner cycle, so 500 every 5 days will absolutely be worthwhile, if that's how you choose to go.