We show how to numerically obtain the value $r$ for the proper radius so that the pentagonal shape with sides $1,2,3,4,5$ can be inscribed in a circle of radius $r,$ with the added assumption that the center of the circle is interior to the pentagon. Under this assumption $r$ appears to be unique, however to really prove that would involve investigating a complicated sum of inverse cosines. A bit more experimentation led to the guess that there is not a solution in which the circle center was not in the interior of the pentagon.
From the law of cosines, if $\theta_d$ is the angle subtended by a chord of length $d$ in a circle of radius $r,$ [so in particular $\theta_d \le \pi,$ the upper value corresponding to the chord being a diameter] then we have
$$\theta_d=\arccos \frac{2r^2-d^2}{2r^2}. \tag{1}$$
In order that the pentagon with sides $1,2,3,4,5$ can be built by putting the triangles each formed by the circle center and one of the chords, we at least require $r>5/2=2.5$ since one of the triangles has sides $r,r,5.$
Now let $g(r)$ denote the result of summing the $\theta_d$ as given in (1) for $d$ from $1$ to $5.$ We find that $g(2.5)=7.5089>2\pi=6.2831.$ But luckily (in a way obviously) the value of $g(r)$ decreases as $r$ increases beyond $2.5,$ and a numerical root-finder shows that when we take $r=r_0=2.717567...$ we get $g(r_0)=2\pi$ which means our desired radius for the pentagon of sides $1,2,3,4,5$ to inscribe in a circle is this $r_0.$ I see no hope of getting an analytical expression for this $r_0,$ since the objective function is defined as a sum of seemingly unrelated inverse cosines.
As for the uniqueness, I admit I only checked that the graph of $g(r)$ is decreasing (or is on my graphing calculator); I didn't feel like tackling $g'(r)$ to really show this. There may be a simple geometric argument to see why $g(r)$ should be decreasing: As we increase $r,$ the angle opposite the chord of length $d$ decreases, and we're adding five such terms.
An example: Take the first vertex at $V_1=(r_0,0)$ and use the chords in the order $5,4,3,2,1.$ Then the second vertex is at $V_2=(r_0 \cos(\theta_5),r_0 \sin(\theta_5))=(-1.88,1.96).$ [Note I'm only rounding to two decimals, also always rounding down, more accurate versions could be obtained.] For the next vertex, we need to use the central angle $\theta_5+\theta_4,$ and the third vertex then becomes $V_3=(-1.79,-2.03).$ Proceeding, we find the last two $V_4=(1.17,-2.45)$ and $V_5=(2.53,-.98).$
A numerical check now shows each vertex is at distance $r_0$ from the origin, thus this five-sided figure is indeed inscribed in the circle as desired in the posted question. And also one can check the chord lengths $V_1V_2$ is 5, $V_2V_3$ is 4, etc, so we do have chords of length $5,4,3,2,1$ in that order going around the circle. Naturally, using only an approximation to $r_0$ our points will not lie exactly on the circle, and the chord distances won't be exactly $5,4,3,2,1.$ But this should convince one that if we somehow could access the exact value of $r_0$, those exact distances would follow.