As others have said above, welding directly to the 5mm sheet will likely pull it out of flat, but the 4x50mm bar should act as reasonable bracing for the legs; In my case I used 40mm square box section.
For the top, I have used 43mm thick high density chipboard, recovered from a factory mezzanine floor, The whole setup is plenty rigid, but obviously the top surface would be susceptible to damage; second hand thick kitchen worktop would do just as well.
I my case I've covered the chipboard with some laminated flooring, but adding the 5mm steel sheet would seem ideal.
It will be hard wearing, and suitable as a welding surface, but with the thick chipboard backing, also be well supported and quieter than if the steel was used on its own.
p.s. when coming up with your measurements, don't forget to allow for the height and fixings for a decent bench vice if you intend to fit one.
When I set up mine, I had a smaller vice than the one I now use; the replacement is taller, and so raised the height just too much for comfortable hacksawing.
Bill
Edited By peak4 on 12/03/2023 19:59:23