At Cambridge North, there is a 5-car stop sign in the same place as the 10-car stop sign, on both platforms 2 and 3.
At Waterbeach, I didn't see a 5-car stop sign last night (I can try and look more closely tonight!). There is a "S" sign (in the same font/style as Greater Anglia's 10-car sign) right at the end of the platform. But ... there is then a 10-car sign beyond the end of the platform (entirely reasonably, because the platform isn't long enough for 10 car trains). So, given that they have an explicit "10", I find it a bit odd that they decided to have an "S" rather than an explicit "5" as well. That said, I also don't recall if there are still 4 and/or 8-car signs for Great Northern, or if they're also using the "S".
But Waterbeach is more interesting. Let's assume that, as suggested previously in the thread, the point of all of this is to cover the case when a driver of a 10-car train forgets that they have 10 cars, and accidentally stops at the 5 (or S for Waterbeach) sign, causing some doors to miss the platform. In that case, moving the stopping point for 5 cars at Waterbeach from the earliest possible point (best for passengers) to the latest possible point (worst for passengers) doesn't actually fix this! A 10-car train stopping at the S at Waterbeach will still have the back 2 or 3 carriages off the platform. Admittedly that is fewer carriages than if there was a 5-car sign in the most convenient place for passengers, so there will be fewer people blindly stepping out of an unplatformed door and breaking their legs, but still a couple of carriage-loads of absent-minded people. And therefore, from a driver perspective, the incident itself would presumably have to be handled in exactly the same way?
Final thought: do Greater Anglia ever run 10 cars on the peak extras to Ely? I don't use them very often, but whenever I have done, they've always been 5. RealTimeTrains says that they are all 5-car today.