NO it should work.
Something that seems bizare is the directory path that you have given [/local/multisites/site5]
Is this the correct path.
I have retested on my system and I have first created a directory in my master website called "book1" and later I have created a slave site into JMS with
- Site ID = book 1
- Domain =
....../book1
- and deploy directory = {root}/book1
It has succeeded.
So check that your path is correct.
In my case, I have used the keyword {root} that ensure to use the correct root path of the master website.