Is it necessary to make up prayers or do anything else if the bleeding stops on the fifth day of menstruation, and the ghusl (ritual bath) was performed at the beginning of the seventh day, in accordance with common practices, given that the usual menstrual habit is to perform ghusl on the seventh day?

You should have performed ghusl (definition) when the bleeding stopped on the fifth day, and not waited two more days, for Ibn Abbas (may Allah be pleased with him) said: "And if she sees purity, even for an hour, she should perform ghusl and pray." You must now make up the prayers for the two days during which you abstained from praying after purification.