If you are going 10X diameter deep, spend the money for a carbide bar. (The bar itself, not the inserts.) It will be much more expensive than a steel bar, but also much more rigid. Going 5" deep with an 0.5" diameter bar, you need all the help you can muster. Even with a stiff carbide bar, you should probably choose one with a very low lead angle on the cutting edge (0 degrees or no more than 5 degrees) to minimize deflecting forces.
And as Terry Keeley correctly says, you will want zero rake inserts for brass, not shiny sharp positive rake inserts. Reason: brass is very grabby and will suck your cutter right in.