You will not be able to write anywhere other than the /mnt/us directory tree unless you have successfully run a JB. As you noted this is currently not possible at your firmware level. Unfortunately you will have to wait for someone to find the way to accomplish this.
If your skills are up to it you can join the hunt for a way to accomplish a JB of that level of firmware. Other than that you will simply have to wait. You might also consider keeping your PW5 in airplane mode and side loading all content. If you do not do so your PW5 will continue to update to the latest firmware automatically.
Dave
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