The point I was trying to make clear is that at stock settings, J2c LLC was at auto, so his actual voltages were not enough to actually boot with that cpu, but would pass post. By overclocking the cpu, he bypassed that and manually set the LLC, giving him enough to maintain stability. Your pc is doing similar in that vdroop isn't supplying enough when LLC is set to auto, so the OC is failing at 4.9GHz.
Asus is correct. A 5/6 out of 8 is medium to medium high, which is perfect for almost all OC attempts, 7/8 is honestly for the pros and world record OC.
LLC is an added voltage. The cpu loads change constantly, highs and lows. It's when the voltage is reaching a low, that's vdroop. The cpu instantly starts a load, and before the VRM's can bump up the voltage the cpu is suddenly out of juice, bsod. So LLC was adopted as a pre-emptive applied voltage so that the vdroop is covered for that instant. Pc remains stable.
Being an applied added voltage, it also affects the peak too, when the cpu has demanded high voltages from the VRM's and finally gotten supplied. So LLC will add to that voltage too and cumulative vcore goes through the roof. So you only need to set enough to cover the vdroop, not enough to swamp the cpu in power and putting undue stress on the VRM's.
So you'd drop vcore to maybe 1.2, add 5 LLC, which bumps the vdroop upto 1.2ish and vcore back to closer to 1.3v. (still set for 1.2v). Would give you a swing of @ 0.1v instead of the 0.15-0.20v you see now.