Your Dock specs say it supports HDMI 2.0b over its HDMI output. That is fully sort of capable of "5K', BUT only at 30 Hz refresh rate. Otherwise the color space is reduced to fit all the data in.
Direct HDMI connection from your Mac over HDMI cables is no better. The limiting factor us the use of HDMI cables.
If you were to change to using a DisplayPort cable, (with or without the Dock) you would get the full possible "5K" resolution at full colors at 60Hz.
HOWEVER, the Displays Preferences display would continue to be misleading, and you would still have to look here for your actual resolution:
Menu > about this Mac > (system report) > Graphics & Displays
AMD Radeon R9 280X:
Chipset Model: AMD Radeon R9 280X
Type: GPU
Bus: PCIe
Slot: Slot-1
PCIe Lane Width: x16
VRAM (Total): 3 GB
Vendor: AMD (0x1002)
Device ID: 0x6798
Revision ID: 0x0000
ROM Revision: 113-E2080C-101
VBIOS Version: 113-280X_GD5_3G_130805KLA1
EFI Driver Version: 01.00.624
Metal: Supported
Displays:
Cinema HD:
Display Type: LCD
Resolution: 2560 x 1600
UI Looks like: 2560 x 1600
Framebuffer Depth: 30-Bit Color (ARGB2101010)
Display Serial Number: CY8360UFXMP
Main Display: Yes
Mirror: Off
Online: Yes
Rotation: Supported
Automatically Adjust Brightness: No