Two, perhaps[0], but not five. Common ATAs are marginal in terms of the voltage and current they provide, whatever the (SOC-)vendor thought they could get away with - but always less than 'real' POTs (and 50 Hz, instead of 25 Hz, which is another problem for electro-mechanical ringers). The more phones you add (in parallel), these issues increase and becomes more emphasized - with five phones, you're pretty likely to miss calls.
If you're living in Europe, the O² Box 6431/ Arcadyan VGV7510KW22 might be an attractive device, which is supported by OpenWrt and provides two (supported via asterisk16-chan-lantiq) FXS ports - this works nicely on OpenWrt. Sadly the device itself is a bit low-end, but it's cheap (5-10 EUR) on the used market. It works decently as a SIP pbx/ ATA, running OpenWrt and asterisk - XOR as a simple VDSL2/ vectoring (up to profile 17b, but not 35b) modem, but not both; and it isn't really a good router/ AP either.
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[0] but you don't want to connect multiple phones to a single ATA port, as that wouldn't allow internal connections between the phones - and parallel phones would allow eavesdropping.