5 laps is more than enough time. There is a guide on here that provides you with the setups with the 17 original tracks. You got two drivers who will use very very similar setups.
You also need to look at the feedback, the breakpoints are "Little less/more" means move it by up to 4, "far too much/little" give it an adjustment of 10.
Record down your setups, you drivers will usually reuse the same setups already.
Cold Weather | Super Soft - Soft - Medium - Hard | Warm Weather
Tyres are influenced on the temperatures as above. The weather do influence the operating window of the tyres. Keep an eye on the temps of the air and what tyres are switching on better and allow you to push.