I imagine it could easily be compensated by an equivalently minor increase of breathing rate or breathing depth.
[1] https://en.wikipedia.org/wiki/Gas_exchange#Alveolar_air
[2] https://en.wikipedia.org/wiki/Breathing#Composition
[3] 5/6 × 40000 ppm + 1/6 × 500 ppm = 33417 ppm; 5/6 × 40000 ppm + 1/6 × 5000 ppm = 34167 ppm; 34167 / 33417 = 1.0225