Is there Apple Pencil in settings is iPad 5 with 14.2 update?

No. iPad5 does not support Apple Pencil.

Here is the full compatibility list for Apple Pencil and iPad:

Apple Pencil (2nd generation)

You can use Apple Pencil (2nd generation) with these iPad models: 

• iPad Air (4th generation)
• iPad Pro 12.9-inch (3rd generation) and later
• iPad Pro 11-inch (1st generation) and later

Apple Pencil (1st generation)

You can use Apple Pencil (1st generation) with these iPad models:

• iPad (8th generation)
• iPad mini (5th generation)
• iPad (7th generation)
• iPad (6th generation)
• iPad Air (3rd generation)
• iPad Pro 12.9-inch (1st or 2nd generation)
• iPad Pro 10.5-inch
• iPad Pro 9.7-inch

Not sure which iPad you have? Identify your iPad model.

The iPad 5 does not work with the Apple pencil.

~Lyssa

Quicker answer?

No Apple Pencils work with a 2017, 5th gen iPad.

Sorry.