Is the new Ipad pro compatible with 5G

No.

But future models may have 5G.

No.

Not for any current iOS devices.

Oops. Except the iPhone 12 line up.

Okay,

EXCEPT the new iPhone 12 lineup.

My bad.

Cellular models of iPad and iPad Pro are not yet able to use/access 5G services. A entirely different Cellular chipset and antenna system is required.