Is there going to be an update for iPod 5 since it is not compatible with iOS 10

Apple has not said anything about it. the 5th Gen iPod touch got the 9.3.5 update just a few weeks ago.

Does not seem like any other major update is in the cards after that for that model.

The touch 5 is likely done with updates unless there's some other security patch like 9.3.5 was.

<oops, double post>