It depends, but I doubt you would lose speed in your situation. In selecting a prop, you want one that will achieve rated RPM at your top speed. HP is related to RPM and unless you can get to rated RPM you are not getting all the HP out of your motor. Typically a 5 HP outboard is designed for a light boat that will plane and run at maybe 10-15 knots. So the standard propeller is designed to get full RPM at these speeds through the water. At slower max speeds, say 5 knots, the water resistance on the propeller will not allow the engine to get to max RPM and thus you lose out on HP. Going to a higher pitched prop and you will see even lower RPM, less HP, and thus less speed.
You will only lose top speed if with the lower pitched propeller you can reach max RPM before you get to full throttle. The problem is that without a tachometer, you really don’t know what is happening. You can add a tach to the outboard. There is a thread about this I will look for...