Adding the Wait node after the Update will make the Wait node be called once per-frame and will basically queue every call made to it. The Wait node (and similar nodes that “take time to complete”), work by queuing the calls in a way that once a loop is “finished” the next loop will begin.
Do you indeed want to move the objects per-frame (in Update). If yes, do you want to simply delay 5 seconds before you begin moving the objects? If so, you could use a Switch Condition node and check if Time is greater or equal to 5, like this: