So what was missing was unlocking the RM5 plus. I looked for the toggle in the Broadlink iOS app, but it just wasn’t there.
I ended up resetting the RM5 and then configuring it to a different WIFI in the Broadlink iOS app. Then I reset it again and starting the configuration again in the Broadlink iOS app, only to intentionally not finishing it. Do not complete the adding it to a room. It will have updated the WiFi connection but still be unlocked by then.
Finally configure it as a new device in Homey.
It took a few tries and pushing the reset button in the RM5 for 5 seconds seemed to be my friend when nothing seemed to react or connect.